Did you know that medical practices report a gross collection rate of 60%?
Here's what that means: For every $1 your practice bills, you'll only collect $0.60! There's no doubt that leaving that much money uncollected will severely impact your bottom line.
Example: If you annually bill $100,000, you will only collect $60,000. You're losing out on $40,000!
So, what can you do? Outsource your medical billing.
Top Benefit: YOU'LL SAVE MONEY & INCREASE YOUR COLLECTIONS!
Hiring qualified in-house billers can be expensive and an administrative burden. However, if you opt to outsource, a team of experienced billers and coders will act as an extension of your team. They'll help you save money by decreasing coding errors and help you increase your bottom line by ensuring you get more of your collections.
That's just one of the many benefits of outsourcing. If you want to learn about the other top benefits, fill out the form on this page to gain instant access to our outsourcing benefits guide!
Who Should Outsource?
If your practice can relate to any of the following, it may be time to outsource:
- Your practice is struggling with ICD-10
- Your staff members are wearing multiple hats and don't have time to pay ample attention to your medical billing
- Medical billing mistakes are costing your practice a significant amount of revenue
- You do not have an experienced medical biller/coder staff member
- You don't have time to focus on patient care and other important issues
What You Will Get From This Guide
- A better understanding of the benefits of outsourcing your medical billing
- The advantages of in-house billing vs. outsourced billing
- Clarity on whether outsourcing is right for your practice
Still on the fence about whether or not you should outsource your medical billing or keep it in-house? Download our guide today to learn the many benefits of outsourcing your medical billing.