Medical practices rely on a healthy revenue cycle management to remain profitable and financially viable. Without an established medical billing process in place, payments from insurance companies and patients may lag.
That reimbursement delay creates unexpected cash flow dips that negatively impact a healthcare organization’s bottom line. Medical practices unable to clear claims quickly experience financial strain, lacking resources to initially invest in or even expand value-based patient care.
Today, healthcare practices of all sizes choose to outsource their medical billing services versus employing in-house billing experts. Outsourced medical billing reduces time-consuming administrative tasks and improves the revenue cycle management process.
This guide will cover the pros and cons of outsourcing medical billing services and what you should look for when selecting the right medical billing service provider for your practice.