Save Time and Money by Outsourcing Electronic Medical Billing

Written by Small Business Tips. Posted in Medical billing management, Outsourced medical billing, Physicians practice management

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How are health records evolving? Many modern hospitals, physicians, and private practices depend on electronic health records (EHRs), or easy-to-share, digital forms and systems. In fact, BCC Research estimates that the electronic health record market will be worth $23.5 billion by 2018. What is required to maintain these systems, and why are a growing number of doctors and specialists choosing to outsource them?

The Two People You Need to Maintain EHRs

Electronic health records typically require a minimum of at least two specialists, a medical billing specialist and a coder. A medical billing specialist must be able to read and interpret codes for invoicing and collections. A billing specialist may complete all invoicing for a practice or office, or focus on one particular topic or area, such as radiology billing, MRI billing, or orthopedic billing.

A medical coder, on the other hand, needs to learn and memorize codes. Coders translate papers and records into codes for invoicing. Coding typically requires certain certifications or qualifying exams.

Is Outsourcing Right For You?

Medical coding and billing takes time, especially when following up on late or partial payments. Moreover, it can be difficult to find employees with the desired three to five years of experience to maintain electronic health records. That’s why many hospitals and doctors’ offices are choosing to outsource medical billing services. What are some of the benefits of outsourcing?

  • Saving valuable time. Radiology billing or physicians billing can consume a lot of time. The hiring and interview process, training, orientation, and more all take away from other duties and task at hand. Focus on treating patients by delegating medical billing services to a third party.

  • Taking advantage of the best software. Medical billing specialists often front costs for professional billing software for you. Doctors enjoy all of the perks of using expensive and comprehensive programs, without directly paying for them.

Maintaining electronic health records can be costly and timely. Doctors can enjoy the benefits, without taking time away from patients, by hiring third party medical billing services.