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.

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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

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4 CMS Updates on ICD-10

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