If you’re a doctor or medical billing company representative, you’re already inundated with dictation and paperwork, so the last thing you need is having to coordinate and collect more payments from patients and insurance companies. This is where a medical accounts receivable company can help you. And following are some key advantages to hiring one.
Save Money on Labor
Your Accounts Receivable Medical Billing firm can save you money in the long run. For one thing, it costs money to send out invoices, including the paper and postage. And outsourcing your medical billing would also prevent you from having to hire a full-time employee to handle your accounts receivables, as you’d have to pay the new-hire a salary, medical benefits and other perks.
Greater Efficiency
The professionals who facilitate the medical billing process for health providers are highly experienced in what they do. Many have degrees in finance or accounting, and they’re also familiar with the plethora of medical lingo. With experience like this on your side, your invoicing and payment collection process will run smoothly.
Focus on Other Functions
Your Accounts Receivable Medical Billing team will free up time for you to focus on other important functions, including meeting with clients, formulating marketing strategies, training your employees and making important policy decisions. And you’ll only need a contact or two to coordinate your billing efforts with the agency.
Extra Services
Most medical accounts receivable agencies provide many more services than you could provide on your own. These include HIM solutions, revenue cycle management, risk adjustment, value-based care and patient contact solutions.
Fewer Overdue Accounts
An Accounts Receivable Medical Billing company can better help you collect payments for yourself or client — if you’re a medical billing company. And as you know, the odds of collecting full payments decrease as times goes on.
For more information on account receivable medical billing, contact Gebbs Healthcare Solutions through their website today.
