Medical billing serves a crucial role in collecting revenue for practices, and so it's crucial to decide whether outsourced or in-house billing services are right for your health system, according to MedCity News.
In-house billing is decidedly less prone to security breaches of patient data. More accountability and transparency are in place for an in-house billing team. Also, the close proximity of the billers allows for instantaneous billing updates, reducing errors and delays.
However, in-house billing can actually cost a practice more money hiring the proper number of billers and keeping necessary hardware and software up-to-date. Outsourced billing may be more cost-effective and third-party companies often provide regular reports to help practices increase profitability.
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In-house billing is decidedly less prone to security breaches of patient data. More accountability and transparency are in place for an in-house billing team. Also, the close proximity of the billers allows for instantaneous billing updates, reducing errors and delays.
However, in-house billing can actually cost a practice more money hiring the proper number of billers and keeping necessary hardware and software up-to-date. Outsourced billing may be more cost-effective and third-party companies often provide regular reports to help practices increase profitability.
More Articles on Billing, Coding and Collections:
Meaningful Use Ruling Provides Clarity for Radiologists
MedeAnalytics Fall Summit Speakers Discuss Current Healthcare Issues
CMS' Proposed Changes to Ambulatory Payment Classifications Prompt Comments From AHA, ASCA