Invoicing and billing are central aspects of any business, but they take on a new life in the healthcare industry. Between patients using insurance, paying out of pocket, and participating in savings programs, billing for healthcare and medical procedures can be a complex process. This requires healthcare providers to have specialized systems for categorizing procedures and billing both patients and insurance companies.
By outsourcing these systems to a call center for healthcare services, you can remove the complex administrative burden of medical coding and billing from your team. In turn, you can provide a better standard of care to your patients while still ensuring your finances are in check.
Medical Billing Services and Their Role in Healthcare
Medical billing is the intermediary between healthcare providers, insurers, and patients. The process starts with determining how to charge a patient. Before you can even send out a bill, you need to communicate with the patient’s insurance to determine if you’re in-network, identify if the patient’s benefits cover the procedure, and calculate how much they need to pay.
This involves documenting each procedure and assigning a code to each diagnosis or treatment so the insurer can process the claim. After submitting a claim, your billing department might also need to file appeals or conduct peer-to-peer reviews to clarify insurance coverage. Finally, they’ll need to send the actual bill to the patient and collect payment.
Even if patients don’t use insurance and pay out of pocket, they may still have access to special discount rates or sliding-scale plans that complicate the payment process. Medical billers should also understand how to manage, document, and process these payments.
7 Key Benefits of Outsourcing Medical Billing
So why outsource medical billing services? Because medical payments are so complex, it can be beneficial to hire a specialized third-party vendor that has reliable processes in place to handle all of your charges. Here are some of the benefits of working with a qualified business process outsourcing (BPO) partner:
Speeding Up Payments
Processing insurance claims can be a lengthy process, and administrative delays can quickly add up. Because BPO teams have streamlined medical claims processing systems for handling claims and payments, they can speed up claims and help you get paid faster.
Reducing Billing Errors
Handling payments and insurance information involves a lot of manual data entry. However, BPO providers often use automation and thorough quality assurance systems to eliminate human error and boost the accuracy of each claim and invoice. Their payment processing call center solutions can help you take control of your data and avoid time-consuming, costly corrections.
Decreasing Costs
Through outsourcing, you can forego an expensive in-house biller and coder. Instead of having to pay for overhead costs like salaries and office space, regardless of how many patients you serve, you can pay a lower fee to get specialized support from an offsite, third-party team.
Improving Compliance
BPO companies that work with insurance and healthcare are experts in HIPAA and other regulations involved with keeping protected health information safe and secure. You can trust that your vendor will safeguard patient health and financial data, building trust with your patients and enhancing your reputation as a trustworthy provider.
Supporting Patient Satisfaction
Many healthcare professionals serve multiple roles, handling a combination of administrative and care tasks. Outsourcing payments can relieve the pressure on both providers and office staff, allowing them to be more attentive to patients and provide a better standard of care.
Enhancing Data Management
Keeping track of patient information can be complicated. Although it’s important to have your own internal databases, outsourcing medical billing gives you extra support when tracking details about payments, insurance, and treatments. Your BPO provider will have efficient systems to ensure all accounts are paid and up to date.
Increasing Scalability
As you take on more patients and expand your practice, you’ll need additional administrative support. Outsourced teams provide services to multiple clients, so you can easily send over a higher volume of work without having to make a big investment to grow your in-house team.
How To Start Outsourcing Medical Billing Services
Switching from in-house healthcare billing to an outsourced solution can have countless benefits for your team. But before you can enjoy the advantages, you’ll need to find the right provider and make the transition. The following are tips on how to choose the right call center vendor for your medical billing.
Identify Your Needs
Review your current billing practices and identify the volume of data you process on a daily basis. This will help you determine what you need out of a BPO provider.
Research BPO Companies
Look for providers well-versed in the healthcare and insurance industry. You’ll want to hire a vendor with the infrastructure to handle complex coding and billing processes. Ask each potential partner about their security and compliance measures, the types of services they provide, and the potential for future expansion.
Develop a Transition Plan
Create a change management strategy for offloading your payment system to another company. Start with reallocating your staff and responsibilities to account for the decreased workload. You’ll also need to come up with a plan for in-progress claims and decide whether you want to close them out with your current system or transfer the data to your new partner.
Getting the Most Out of BPO Medical Billing
Once you set up your outsourcing system, focus on streamlining your operations to maximize the benefits of working with a BPO provider. Here are a few best practices to implement:
- Take accurate patient notes so your outsourcing partner can accurately code different charges.
- Use secure systems within your practice so both you and your provider can successfully protect sensitive patient information.
- Review your outsourcing provider’s analytics reports to ensure you have the full picture of your outstanding bills and incoming payments.
Supporting Patients With Outsourced Medical Billing
Outsourcing the billing process for your healthcare organization makes it easy to oversee your complex invoices and insurance claims while also taking pressure off your staff. Experienced BPO providers can handle the entire process, from managing appeals to sending bills to patients to processing incoming payments. They’ll keep your databases up to date and ensure your team is properly compensated for their work, supporting your cash flow and facilitating your organization’s growth.
Here at Confie BPO, we understand the nuances involved with providing healthcare. We can connect you with experienced medical coders and billers who work within our trusted systems to manage insurance information and invoices easily.
Streamline your organization’s finances today by contacting us online or calling 800-684-2276.
