Pros & Cons Of Outsourcing Podiatry Billing Services
Podiatrists are the specialists who deal with diseases, conditions and set of symptoms related to foot and ankle. In fact, these podiatrist specialists address a broad range of medical issues such as diabetic care, sports medicine, wound care, and related surgeries that always keep them busy.
Apart from all these complicated medical issues, additional complexity that adds to the podiatric services and procedures involves specific medical billing and coding. As the medical necessity and the restrictions on the foot conditions to be treated are very specific, that’s why professional’s billers and coders are required to handle these restrictions. Moreover, the podiatrists must understand what services are to be covered under which insurance plans, use of correct and appropriate codes for such services, submission of clean documentation, etc., are required to maximize the reimbursement amount.
While dealing with all these requirements, a dilemma needs to be solved by almost every podiatrist to decide whether to outsource their billing requirements or not. Though the solution to this query may vary from one practice to another depending on several factors such as business size and age, it’s better to outsource your podiatry billing services.
Pros of Outsourcing Podiatry Billing:
Transparency in Operations
If you need comprehensive performance reports from your in-house billing team, there is a need for thorough training of the staff, and also have to ensure a bit of micromanagement. However, this won’t be the requirement when using an outsourcing company specializing in podiatry billing.
To be sustainable and successful in the podiatry medical practice, the mantra is to outsource of third-party medical billing companies to ensure transparency in operations. These companies often release the monthly performance reports or on request to ensure the correct path selection. Moreover, such medical billing companies don’t need any kind of micromanagement, and yet they can offer you excellent insights into your billing operations.
Hands-off on Billing & Coding
Some might argue that it’s better to have control over the various tasks than to leave everything apart. However, in the case of medical billing and coding- it’s always worthwhile to outsource medical billing services to third-party companies who have better hands-off. You already have a lot on your plate to worry about- your patients and the finances, the other podiatrists and your medical equipment, out of all the things. Do you really want to spend time worrying about the billing and claims processing? Rather not!
Outsourcing the highly technical medical jobs to well-trained experts can free up your time as well as your money. In fact, it might prove to be the most valuable decision for your practice and revenue.
Difficult to Manage
As the entire in-house podiatry team of billers and coders is hired by the company officials, you can directly reach them for all your billing and coding requirements. In fact, if there is any change in the plan or the billing structure, it can be adopted quickly without much issue. However, the complete scenario gets changed when the same billing is outsourced to third parties. Since you are bound by the contracts signed with these outsourced companies, you can’t make the changes as and when you desire as per your whims. Moreover, you can’t monitor the finances regularly as the outside parties exercise complete control over your billing tasks.
Lack of Final Checks on Invoices
Literally, there are no restrictions or limits on the number of revisions and final audits made to the invoices when working with the in-house billing team. In fact, the communication with such a team becomes effortless with the ease of last checks and modifications as and when required. However, it is not that easy to revise and perform the final checks on your invoices to get the complete reimbursement. That’s why there is a need to think twice before outsourcing your podiatry services to outside parties.
Choose the Podiatry Billing Professionals…!
Undoubtedly, there are cons involved in outsourcing the podiatry medical billing services. But choosing an experienced company with the clarification of everything well in advance proves to be the best option for handling the podiatry billing. 24/7 Medical Billing Services is your preferred partner for outsourcing your podiatry billing service. We give you fewer things to worry about and more money to run your clinic. We also prefer using the time-saving podiatry billing software that offers you ample opportunity to grow your practice.
About 24/7 Medical Billing Services:
24/7 Medical Billing Services is the nation’s leading medical billing service provider catering services to more than 43 specialties across the entire 50 states. You can rely on us for end-to-end revenue cycle management. We guarantee up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%.
Call us today at 888-502-0537 to know more on how we can help boost profitability for your practice.
Media Contact –
24/7 Medical Billing Services,
28405 Osborn Road,
Cleveland, OH, 44140
Tel: + 1 -888-502-0537
Email: [email protected]