Today managing medical billing today is quite an expensive affair. Today bringing a new employee on board is like spending $ 50,000 per annum. However, it doesn’t take long for healthcare practices to discover or to reach close to $ 70,000 and even more due for the additional expenses like associated with hiring a new employee including IT equipment and licenses, insurance, recruiting expenses, training fee and background /drug screening etc making the whole process quite pricey for many healthcare practices to manage. Besides even after spending such a huge cut, it doesn’t guarantee billers and coders being steady and persistent.
Labor is typically the most expensive commodity and today it is getting limited by days. It is no longer a secret that the healthcare industry today is dealing with an understaffing problem and currently facing various issues and causing threats to many hospitals, centers etc. In fact, more than 73 % of healthcare practices today have reported of struggling to maintain the bare minimum due to understaffing problems which is also affecting patient care and management as well. This is why today’s healthcare practices are determined to look for a better alternative or option that can cater to the billing needs at a cost effective rate – like outsourcing.
Outsourcing for better productivity metrics:
Increasing your key performance indicators (KPIs), outsourcing your medical billing today is a modern day cost effective solution. With experienced resources working to improve your collection ratio, outsourcing eliminates additional expenses and additionally helps you save money and time.
Assisting you focuses solely on patient care and not only on billing and coding complications, it further aids many in growing their business rapidly. Saving you time and time, outsourcing today reduces your denial chances as well.
Outsourcing has made the billing and coding process easy for many practices stated Dipak Nandi a proficient New York base Neuro-Psychiatrist and a pioneer in the healthcare industry. Mr. D Nandi is not only engaged in clinical practice but also has his hand in improving the healthcare industry also believes that outsourcing today is the need of the hour for better operational support to improve the collections of healthcare practices.
