With the amount of regulation in the healthcare industry, a few errors are all that separate your practice from a huge compensation price. This makes a lot more sense in the context of billing documentation and medical coding; a few errors in either could cost the disruption of quality care to your patients in addition to making your wallet significantly lighter.



By outsourcing, you will save the expense of employing personnel with diverse skill sets. In most cases, especially for smaller practices, it is not practical and feasible to employ separate IT specialists and separate billing specialists.

Consequently, with thousands of new ICD codes coming up, coupled with the HIPAA audits beginning this year, you will require competent, experienced and able personnel to do your medical billing for you. Here’s how they’ll help your practice prosper and flourish:

Facilitating compliance with strict coding regulations is one of the foremost and key benefits of outsourcing. Taking time on billing is important, as you don’t want insurance companies to deny payments because of small errors in your bill. With so many deadlines, guidelines and instructions, even the biggest of practices fall prey to such mistakes. Your practice is much smaller, and thus, such mistakes will have more impact on your revenue stream with the subsequent audits and potential fines. 
   
The specialized personnel to whom you've outsourced this service have a strong grasp of the service, and the expertise required to get the job done with the maximum success rate in the minimum time. Moreover, they possess the extra time, which a small practice like yours seldom has, to recheck the reports they've compiled and to identify any changes in regulation and compliance that you could easily overlook. 
The overall revenue for your practice will also rise as they have the resources and the experience to effectively claim reimbursements, ensure receivables are collected faster and to minimize denials. With the revenue cycle of your business flourishing, your practice will enjoy accelerated growth.

Your patients will also be more satisfied with lesser errors, and more importantly with the added time that you are now able to dedicate to them.

Consequently, you save a significant amount of money and markedly more time to focus on your practice.