WHY OUTSOURCE?
Running a medical office is simultaneously rewarding and exhausting.
Between trying to provide your patient with the highest level of care possible, maintaining compliance with various state and federal requirements, and keeping your claims going out the door it can quickly feel like you’re trying to juggle pins at a circus. Add in trying to manage staff payroll, engaging in community networking, and keeping up on your continuing education credits, burn out comes quickly. With the ebb and flow of patient volumes through the pandemic, it was difficult for many providers to keep up with the financial demand of their office expenses. We saw staff layoffs, downsizing, bankruptcy, and practices shuttering their doors in response. Others thought increasing their patient visit numbers each month would turn into additional revenue but ended up creating even more overhead costs for themselves in the form of taxes, equipment, and payroll costs. With some offices experiencing overhead costs of nearly 60%, it is crucial for you to review your operating costs to see where you can save your practice money.
Often times when an office is struggling, the first thought is to have less staff and have each of those remaining staff members wear multiple “Hats”.
On paper, this seems like a great solution. However, lack of training and experience often lead to misunderstandings and mishaps. Due to the strict timely filing guidelines of insurance payers and the contractual obligations these payers bring, you have even less flexibility in fixing these billing problems once they start to pile up. Don’t let these mistakes lead to lost revenue for your office. Hiring an outsourced billing team allows you to more effectively plan ahead with your monthly office budget, specifically with respect to your pay roll costs. We bill for our services based on a percent of your insurance revenue received in a given month. If you had a month that is slow, your costs for your outsourced biller will mirror that. Compare that to a standard employee where you have to pay a fixed wage, benefits and taxes, your payroll expense for that time period would’ve been higher potentially pushing you into the red. This is detrimental to your overall growth and leads to unnecessary burdens on the provider.
On average, hiring an outscored medical billing company can increase your revenue by up to 20%.
As we continue to navigate the new landscape of healthcare post pandemic, we continue to see offices struggling with their cash flow. With the vast majority of offices depending on roughly 75% of their income through insurance related reimbursement, it is crucial that your medical billing is done right the first time. At Bielser Billing Services, we are billing experts. We have dedicated ourselves to be the best in our field and regularly attend continuing education so that we can stay on top of the most up to date billing and coding changes. This allows us to be efficient, compliant, and trained to deal with the ever-changing regulations concerning your office’s billing needs. Our team ensures claims are submitted correctly the first time, reducing claim rejections and increasing the turnaround time on your claim processing time. This consistency means a greater return for you, putting money in your hands faster. Whether you are just starting out in private practice or are a veteran of the field, a streamlined billing process is vital to your clinic’s financial health. We tailor our services to our client’s individual needs so that the provider and their staff can focus up on their patients and not the business back end of healthcare.
Between trying to provide your patient with the highest level of care possible, maintaining compliance with various state and federal requirements, and keeping your claims going out the door it can quickly feel like you’re trying to juggle pins at a circus. Add in trying to manage staff payroll, engaging in community networking, and keeping up on your continuing education credits, burn out comes quickly. With the ebb and flow of patient volumes through the pandemic, it was difficult for many providers to keep up with the financial demand of their office expenses. We saw staff layoffs, downsizing, bankruptcy, and practices shuttering their doors in response. Others thought increasing their patient visit numbers each month would turn into additional revenue but ended up creating even more overhead costs for themselves in the form of taxes, equipment, and payroll costs. With some offices experiencing overhead costs of nearly 60%, it is crucial for you to review your operating costs to see where you can save your practice money.
Often times when an office is struggling, the first thought is to have less staff and have each of those remaining staff members wear multiple “Hats”.
On paper, this seems like a great solution. However, lack of training and experience often lead to misunderstandings and mishaps. Due to the strict timely filing guidelines of insurance payers and the contractual obligations these payers bring, you have even less flexibility in fixing these billing problems once they start to pile up. Don’t let these mistakes lead to lost revenue for your office. Hiring an outsourced billing team allows you to more effectively plan ahead with your monthly office budget, specifically with respect to your pay roll costs. We bill for our services based on a percent of your insurance revenue received in a given month. If you had a month that is slow, your costs for your outsourced biller will mirror that. Compare that to a standard employee where you have to pay a fixed wage, benefits and taxes, your payroll expense for that time period would’ve been higher potentially pushing you into the red. This is detrimental to your overall growth and leads to unnecessary burdens on the provider.
On average, hiring an outscored medical billing company can increase your revenue by up to 20%.
As we continue to navigate the new landscape of healthcare post pandemic, we continue to see offices struggling with their cash flow. With the vast majority of offices depending on roughly 75% of their income through insurance related reimbursement, it is crucial that your medical billing is done right the first time. At Bielser Billing Services, we are billing experts. We have dedicated ourselves to be the best in our field and regularly attend continuing education so that we can stay on top of the most up to date billing and coding changes. This allows us to be efficient, compliant, and trained to deal with the ever-changing regulations concerning your office’s billing needs. Our team ensures claims are submitted correctly the first time, reducing claim rejections and increasing the turnaround time on your claim processing time. This consistency means a greater return for you, putting money in your hands faster. Whether you are just starting out in private practice or are a veteran of the field, a streamlined billing process is vital to your clinic’s financial health. We tailor our services to our client’s individual needs so that the provider and their staff can focus up on their patients and not the business back end of healthcare.