Accountable Care Organisation |
In the era of value based care,
physicians find it tough and time consuming to balance administrative
along with their prime function of patient care on their own.
Outsourcing the administrative processes which needs expertise and
resources is significantly more appropriate approach when these aren’t
available in house. Health care organizations and physicians are
increasingly seeking contractors for services like billing, coding,
medical staffing and information technology services in order to bridge
the gap. The companies providing these services have no doubt proved to
be beneficial for the growth of its clients. Moreover, it has been found
that the growth in outsourcing between the 2010 and 2011 was reported
to be around 13.1% with 20 outsourcing firms which served 16,463
clients.
Benefit of Outsourcing
Partnering with an outsourcing firm has
brought more technology and expertise in the industry, thus expanding
the job options in the field, along with helping physicians extract most
of the money for the services they deliver. Contrary to the popular
belief that the small healthcare firms do not need outsourcing, truth is
small facilities too are finding it beneficial to outsource as they
adopt electronic billing and EMR implementation along other reforms in
the new era of value-based care.
Outsourcing the task of medical billing
relieves the medical professional from various administrative tasks.
The health care organization can be saved from a few issues which are
unavoidable like:
- Staff retention: with the outsourcing process, healthcare organization need not worry about recruiting, managing & retaining billing staff and training new billing staff when old staff retires or moves on, hence helping in smooth functioning of the billing process
- Billing possible on all days: with in-house billing there is complete dependency on fixed staff members and in case of absence of any of the staff members or any holiday, the billing process is kept on hold, but with outsourcing this headache is eliminated ensuring on-going billing process throughout the year
Outsourcing can make your office run
more efficiently and systematically with small investments which
although go unnoticed, but are considerable in total like postage
charges and telephone bills also reduce. Added costs for labour, office
system and other operational expenses are also reduced considerably.
Furthermore a better turnaround time with better revenue cycle is
guaranteed along with improved collection rate on an average of nearly
20%.
MedicalBillersandCoders.com
the biggest consortium of billing and coding experts, has been
assisting medical practitioners and health care workers for over a
decade now towards betterment of revenue cycle and management of
administrative tasks. Our billing and coding experts are also constantly
trained and updated with the latest reforms, thus rendering the clients
stress free and relaxed as far as revenue is concerned.