Why did you decide to become a doctor or specialist? Was it because you love business? Do you adore paperwork so much that healthcare seemed like the best field to go into? No way! The majority of physicians went into healthcare to help as many patients as possible and provide top-notch care. Outsourcing the business side of medicine allows doctors and medical professionals like you keep the tasks that you enjoy performing at your practice and avoid the rest.
Coding and Billing
Coding is how you communicate with the insurance companies about all the services you provided to their patients and billing is how you get paid for all those services! Both coding and billing are integral parts of running a successful medical practice and making sure you get paid quickly on everything you did. What types of coding and billing tasks can outsourcing take off of your plate?
- Coding assessment and feedback to ensure all proper codes were captured correctly
- Charge entry review
- Accounts Receivable follow-up, including denials, rejections and appeals
- Posting payments from insurance companies and patients
- Patient statements and customer service for billing inquiries
- Trend reporting and analysis, focusing on preventing errors and being proactive
- Credentialing and re-credentialing services
Administrative Work & Training
Does anyone enjoy completing administrative work? Medical Business Partners does! We offer our practice clients a full spectrum of administrative and training services designed to make their jobs easier. From a compliance review to credentialing, and from software advice to business development, we can take tedious but necessary administrative tasks off of your plate.
Outsourcing is not only a way to spend most of your time doing tasks that you want to do, it’s also a way to improve productivity and lower your costs. Some of the many benefits of outsourcing include:
- Improving your cash flow thanks to rapid invoicing and claims submission, as well as expertly skilled AR services. Outsourcing your billing, in many cases, means enjoying more accurate, faster billing. When you get your bills out faster, money will be in your hand faster.
- Boosting your patient satisfaction rates. When your patients receive prompt service and feel like they are properly taken care of, they are much more likely to have an excellent experience and rate your practice highly.
- Always having someone working on your account. As opposed to having in-house staff, who may be off because they are sick, on vacation, or have quit, outsourcing ensures your account is always covered and there’s no down time.
- Saving you a lot of money versus having in-house billers, providing benefits and training them on your software, processes and their job.
- Many outsource companies also provide additional services which may greatly enhance your practice, such as coding analysis and education, credentialing, front staff training, software guidance and help, as well as assistance selecting the best ancillary services to boost cash flow and provide better care for your patients.
Outsourcing from Medical Business Partners
Medical Business Partners specializes in workflow optimization, dynamic solutions and a wide range of services designed to help medical practices grow and thrive. To learn more about our coding and billing services, start-up consulting, credentialing services or something else, please contact us through our website or by calling (202) 390-3966.