Is Outsourcing a Sign of Strength or Weakness?
There’s no debate: Outsourcing is a sign of strength and smart management
IF two factors are present:
- You’ve identified a business partner whose competence and technology in a certain area are greater than yours
- That business partner can manage all issues related to that topic for a lower cost than you can
If points 1 and 2 are true, outsourcing will benefit your practice.
Success requires that you focus on “What you’re good at.”
The best CEO’s have a vision. What’s your vision? How do you complete this sentence?
My practice will be recognized as being, “THE BEST _____________________.”
If having the best billing department is your goal, if “claims management” gets you out of bed in the morning, then yes, you are one of the 5% of practices that should bill in house.
But if your passion centers on maximizing patient outcomes, if you crave innovating new treatment techniques, and love truly changing your patients’ lives, you should delegate collections to someone who satisfies points 1 and 2 above so you can focus on achieving your vision.
A competent billing and collections company:
- Oversees tens of thousands of treatments per day and has a broader “scope” than a practice employee could ever have
- Utilizes “big data” trends to clarify what does and what doesn’t get paid
- Builds payer rules into your EMR, guiding employees toward clean claims
- Invests millions of dollars in proprietary technology to win against the payers’ technology
- Emphasizes and measures collections. The payer has your cash. The more calls that are made, the more cash is collected
- Completes the entire collections process with their own US-based employees
- Provides EMR and superior collections for much less than you’re paying today
In our experience, practice payments increase an average of 9.2% vs. the prior approach to billing. And costs decrease by about one third.
Listen to your heart. Realize your potential. Partner with the best talent in the industry and devote 110% of your energy to achieving your core vision.
We’ll get you paidTM
