Medical billing is solely responsible for the financial reimbursement a medical practice receives, and the cash flow of the office depends upon responsible and effective medical billing. With insurance protocols changing each year, medical offices must remain on top of new laws and reimbursement regulations in order to have a profitable practice. With outsourced medical billing services in Orlando, a doctor can save on overhead costs and improve the efficiency of patient medical billing.
Outsourced Billing Requires Less Office Staff
Every doctor’s office that wants in-house billing will need a separate billing staff to handle ingoing and outgoing bill processing. Busy medical offices will often need more than one person to handle the billing, especially if there are multiple doctors sharing one practice. The more office staff you need for medical billing, the more you must pay out of pocket for salaries, benefits, and training. With outsourced medical billing services in Orlando, you only need to pay the billing company a monthly or yearly fee to handle all of your medical billing processes. This saves you time and money, since the billing company will pay the processors and provide the necessary training.
Save on Collection Costs
Delinquent bills are a frequent problem in the medical industry. When a patient fails to pay, even after numerous bills and notices, the next step is to send the outstanding payment to a collection agency. If you privately contract with a collection agency, you will pay a fee to use the service. By contracting with a medical billing company, you don’t have to hire out a separate collection agency. The billing company will handle the collections aspect of your medical billing, trying to track down and get payment from delinquent accounts.
Consistent Follow Up Billing
The advanced technology the billing company uses makes it easy to provide consistent follow up billing. In some in-house billing situations, the staff becomes overwhelmed with the number of patients needing billing services and some clients fall through the cracks. This means that either you aren’t paid or payments become severely delayed. With medical billing services in Orlando, the company will send bill notices every few weeks to follow up with patients, and decrease the number of delinquent bills or missed payments.
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