For medical offices and hospitals, efficient and accurate billing is one of the most important administrative aspects of managing a profitable business. Many doctors and practices attempt to manage their medical billing needs in-house while many more are turning to the services of third-party providers with specialized services. To help you weigh the options, the medical billing experts at WCH Service Bureau Inc. in Brooklyn, NY, would like to explain the advantages of hiring a third party.
In-House Medical Billing
On the surface, having your own staff to handle your medical billing may seem like the least expensive option, but over time, the cost of staff, training, and equipment will quickly exceed what you would have paid to a third party. Your office will also be held accountable for mistakes and the actions of careless employees, which can expose you to considerable losses. And if an internal biller decides to take a vacation or goes on medical leave, you’re stuck finding a replacement. Hiring a third-party provider eliminates these delays, as the work will be passed on to another employee at the comany.
While hiring a third-party medical billing company means surrendering some amount of control, the decision offers the benefit of lower costs and consistent, reliable support services. Most medical billing providers also provide increased transparency with more detailed performance metrics than you would probably receive from an in-house staff. However, many third-party billing companies have hidden fees, so always have your attorney read over any agreement before signing.
Another benefit is that a doctor will only pay a medical billing service once the doctor receives payment from the insurance company. But if you hire an internal staff member, the doctor must pay that person’s salary regardless of what happens with a claim.
Choosing WCH Service Bureau Inc.
The team at WCH Service Bureau continually educates their clients about updates within the medical billing industry—they even have a dedicated staff to this very endeavor. With a heavy workload each day, an internal medical biller simply won’t have the time to provide this level of service and attention to detail.
Doctors also have the benefit of better protection under WCH. For example, a doctor was expected to pay $375,000 to an insurance company. However, WCH’s lawyer was able to contest the charge and prove the insurance company made an internal mistake. In the end, the insurance company ended up paying for the doctor’s lawyer fees.
Health care providers of all sizes benefit from the expert services WCH Service Bureau Inc. offers, from aggressive appeal of denied claims to accurate coding. With their assistance, you can dramatically cut the costs of your medical billing, allowing you to concentrate on serving patients. To learn more about how they can help make your practice more efficient, visit the website or call (888) 924-3973 today.