Doctors are busy people minding their practice and treating valuable patients. They work long hours with great responsibilities. Medical billing services in Fort Wayne just aren't the first things on their occupied minds. Yes, they care about revenues and income, but the nuts and bolts of finances are not second nature. Who do they turn to for help?
This is called "outsourcing" and it has saved more than one medical practice. It is too much to ask the front office manager to oversee insurance and patient billing. Everyone has plenty to do providing the best possible patient care. That should be the priority, not medical invoice preparation or submission.
Medical billing outsourcing has been the staple of many practices and the concept is growing as word gets out about its efficiency and efficacy. It is peripheral to hospital treatment but can no longer sit on the sidelines. A medical concern cannot operate without funds and these come from billing.
Many medical practices could have gone under with the expense of permanent invoicing staff. Reorganization has been necessary and in many case successfully implemented. This serves as a model to newer practices that could learn a valuable lesson. Keep peripheral matters out of the office, and patient care in.
Patient invoices must be followed up if payment is not forthcoming. After an insurance or government payment, often there is a balance due. More time and effort is required to collect resulting in either a payment plan or legal action. Special expertise now comes into play. Once again, the practice must receive reports to get an overview of the practice.
The office does have copies, either paper or electronic, as backup, but the responsibility has been passed on. Now the initial invoice is a receivable awaiting payment. When the pros keep the billing going, a nice revenue stream feeds the medical practice and keeps the enterprise going.
The physician's receptionist prepares a super bill when the patient has received treatment and is exiting the office. He or she collects the insurance card, notes the diagnosis and assigns it a code which will determine the billing fee. Copies are placed in the patients file, paper or electronic, and the bill is assigned to the outsourced company for processing.
There is no reason to turn your head if you are a medical doctor leading a thriving practice. Who doesn't want to save time, money, energy and aggravation? There are better things to do with one's time like recruiting patients and promoting the practice. Doctors simply can't afford the resources given the reduced fees for healthcare and the influx of new patients.
This is called "outsourcing" and it has saved more than one medical practice. It is too much to ask the front office manager to oversee insurance and patient billing. Everyone has plenty to do providing the best possible patient care. That should be the priority, not medical invoice preparation or submission.
Medical billing outsourcing has been the staple of many practices and the concept is growing as word gets out about its efficiency and efficacy. It is peripheral to hospital treatment but can no longer sit on the sidelines. A medical concern cannot operate without funds and these come from billing.
Many medical practices could have gone under with the expense of permanent invoicing staff. Reorganization has been necessary and in many case successfully implemented. This serves as a model to newer practices that could learn a valuable lesson. Keep peripheral matters out of the office, and patient care in.
Patient invoices must be followed up if payment is not forthcoming. After an insurance or government payment, often there is a balance due. More time and effort is required to collect resulting in either a payment plan or legal action. Special expertise now comes into play. Once again, the practice must receive reports to get an overview of the practice.
The office does have copies, either paper or electronic, as backup, but the responsibility has been passed on. Now the initial invoice is a receivable awaiting payment. When the pros keep the billing going, a nice revenue stream feeds the medical practice and keeps the enterprise going.
The physician's receptionist prepares a super bill when the patient has received treatment and is exiting the office. He or she collects the insurance card, notes the diagnosis and assigns it a code which will determine the billing fee. Copies are placed in the patients file, paper or electronic, and the bill is assigned to the outsourced company for processing.
There is no reason to turn your head if you are a medical doctor leading a thriving practice. Who doesn't want to save time, money, energy and aggravation? There are better things to do with one's time like recruiting patients and promoting the practice. Doctors simply can't afford the resources given the reduced fees for healthcare and the influx of new patients.
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