Why Out-task Medical Billing?

Out-task’ is typically contracting with another organization or people to undertake a particular job. And today, almost most companies contract out their work in one way or the other.

In the medical or healthcare area, resource optimizing of the various medical back office work like billing, coding, claims submissions, denial management, claims processing, doctor credentialing services, insurance verifications etc. are some of the functions that can be out-tasked to other organizations. And this does come with a lot of benefits and advantages to the practice, hospital, insurance company or firm.

Medical billing and coding process requires accurate attention, as it involves medical codes, documentation, claims and reimbursements. Also experienced human resources, clear communications and constant follow-ups are required. Therefore, it makes business sense and the practicality factor to co-source these functionalities to an organization specialized in this.

Some of the benefits of out-tasking medical billing and other activities are outlined below:

  • Increased and better revenue and profit margins

  • Better productivity, output and time management

  • By out-tasking certain activities, the practice can take on additional business volumes and grow the business

  • By out-tasking, you can employ lesser number of in-house office personnel, decreased overheads and spending, reduced expenses on salary, emoluments, taxes, insurance and other benefits

  • Lesser investment in newer technology and software to help support the back office work

  • Reduced grounds for liabilities, accountability, legal responsibility on account of billing, claims denial etc.

  • If we retain all the work in-house then staffing is a major issue and even if one person goes on leave, work suffers and is hindered

  • Micromanaging of all operational issues can be avoided

  • Greater transparency and lucidity can be maintained when work is out-tasked

  • It is less expensive when medical back office work is transitioned and contracted out

  • There is a greater level of consistency, constancy, greater clearance levels in claims submission and acceptance, lesser denials and this augurs well for the business both in terms of better credibility and increased revenues

  • There is an established competitive gain and huge cost savings in the long run

  • Increased and better patient interactions and satisfaction levels due to compliant billing services

  • The out-tasked work is undertaken by organizations that are credible, certified, compliant to all existing rules and regulations, have experienced staffers onboard, employ the latest technology and data security measures

These benefits and a combination of many more factors and reasons are why practices are considering co-sourcing medical billing and other related services and this in turn helps them focus on core areas of functioning and thus streamline their operations and dedicate their time to more profitable propositions.