Revenue cycle management is a step by step process engaging multiple parties in each step and working towards submitting cleaner claims to ensure maximized reimbursement. To increase billing and financial efficiency, a perfect work strategy, an experienced billing and coding team and well-equipped infrastructure are mandatory. Outsourcing to a well-established medical billing service partner provides a one-stop solution for all your Billing and Coding needs.
However, while considering outsourcing your revenue cycle management, you might come across some common myths, we suggest you to analyze each of them clearly before concluding your decision. Let us discuss on few common myths about outsourcing to debunk their probability with effective explanations:
By Outsourcing You Lose Control Over Your Business
This general myth and fear of losing control of your business hinders your from making a right decision during your preliminary stages of deciding to outsource. Outsourcing your revenue cycle management gives you access to well-trained and experienced billing team submitting cleaner claims on time, thereby increasing your collections. The billing team also shares a detailed report on each claim giving you more control over every dollar to be collected.
Only Big Companies Can Outsource
This has been a general misconception among the small-sized billing companies; although most of the offshore based billing companies target to work along with top Medical billing companies in US, this does not mean they close doors to small and medium sized business. In fact, small and medium sized billing companies sum up to 80% of their clientele.
Outsourcing Destroys the Work Quality and Brings Down Client Satisfaction
Researches have proved that a billing company performs 15% better than the billing departments. Medical billing outsourcing is a flourishing and trending field of the century, which in other words mean more and more billing companies opting for offshore outsourcing.
Outsourcing Always Needs to be End to End Billing
Many billing companies are worried about a particular scope of service which is not of their expertise. Your offshore billing partner should be able to assist you on that particular scope of service while you handle the rest of the scopes at your end. Outsourcing partial scope of services is a common practice to have some one assist you with the most tedious process of your billing cycle.
Outsource to Third Party or Offshore is Not Safe
An offshore based medical billing partner is HIPPA Compliant and engage in safe and secure medical billing process to safeguard PHI. You might have to look out for a well-established offshore medical billing partner by checking their years in business, expertise, and adherence to safety measures and compliances.
Offshore Outsourcing is Exercised Only in Cutting Cost
Apart from cutting down your overhead and operational cost, an offshore billing partner will also improve your overall billing experience by improving your productivity, analyzing denied claims to curb repetitions, checking and updating fess schedule to ensure maximized reimbursement, increased quality and efficient billing strategies. Outsourcing entitles you with a stress-free billing experience ultimately leading to expand your business levering the areas and specialties based on your offshore medical billing partner’s expertise!
About e-care
e-care is one of the leading medical billing companies in India providing complete RCM services to more than 100+ clients across US. e-care has been in the industry since 2000, and have expertise handling 25+ major specialties. Twin certified by ISO for information security management and process & quality, also compliant with HIPPA, Ecare ensures to work as a virtual back office to all your billing and coding needs. To know more about the benefits of outsourcing to e-care log on to https://www.ecareindia.com/offshore-medical-billing.html