Thinking about outsourcing? Here are seven reasons why it’s financially beneficial to outsource your medical billing:
1. Time- You’ve probably heard the phrase, “Time is money.” Well, in a medical office setting, this is true. Your staff should be focused on patient needs. Outsourcing frees up your employees to complete more efficient and proceeds-friendly functions.
2. Security- If you outsource, you know that you’re working with experts who are well trained, and knowledgeable. You know that your records are going somewhere where they will be attended to, and you will receive the profit.
3. Simplicity- Having your own office take care of your billing can easily become complicated. Your office workers have many tasks, and adding to their numerous jobs can cause confusion. Limiting the confusion in your office will increase efficiency.
4. Performance- It’s hard to keep track of the work your employees do, and you shouldn’t have to check everything to ensure it’s acceptable. Employees can be easily distracted, and unreliable. Outsourcing guarantees professional efficiency.
5. Software costs- Buying your own software is costly, and it doesn’t always work how you want it to. Designing software to fit your needs is vexing, so why bother? Just outsource, and they’ll deal with it for you.
6. Space- Who can say that they have office space to spare? It’s a rarity. Outsourcing would mean having more room for other purposes, such as patient rooms.
7. Taxes- According to “Lawyers.com” independent contractors “don’t have nearly as many tax obligations” as you will with employees. With less forms to complete, and state requirements, independent contractors in any case are a good idea.
The facts are there, outsourcing is propitious. If you’re practice could use a little more money, space, or time, then outsourcing is the solution.