90% of Solo, Small Physician Practices Plan to Outsource Medical Billing

The majority of solo and small physician practices, 90 percent, that have in-house billing and collections plan to outsource most or all of their medical billing services within the next two years, according to Kareo's Black Book 2014 report.

Here are five statistics on physician medical billing services plans and preferences.

•    99 percent of physicians prefer a U.S.-based vendor account manager to interact with practice staff
•    94 percent of physicians prefer an onshore, U.S.-based call center for patients to reach out to
•    91 percent of physicians prefer the least expensive outsourcing options
•    42 percent of small physician practices with employed billing staff hope to move billing services to outsourced provider within the next year
•    Of the small practices planning to keep in-house billing, 82 percent hope to integrate practice management, billing and EHR into a single vendor solution by 2016

More Articles on Coding and Billing:
Kareo, ChartLogic Create New Partnership for Revenue Cycle Management
Payer Findings on Bundled Payments: 5 Things to Know
4 CMS Updates on ICD-10

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