How Your Busy Medical Practice Can Be Its Own Worst Enemy
While the primary purpose of a medical practice is to care for patients, hospitals and small clinics are also businesses. It would also seem to many people that a busy medical office is a profitable one, but as many physicians and administrators can attest, this is not always the case. There are many scenarios that can result from increased patient flow and appointments, which can put a burden on a medical clinic or office.
Busier is not Always Better
As a manager or director, you’re fully aware of the importance of medical billing to a practice’s continued operations. A busier practice often means additional billing responsibilities. For some clinics, an increased number of claims to be filed may result in less efficient, and ultimately less profitable, operations. Some of the adverse effects an increase in business could have on a medical practice include:
Added overhead in the event that additional employees have to be hired to handle the increased workload.
Operations and cash flow can be affected much more if an employee quits, is fired, or takes time off for illness or vacation when the workload is heavy.
It can be easier for claim denials to go unappealed and for forms or other billing and claim paperwork to be overlooked or discarded.
Outsourcing Medical Billing to Maintain Quality Care and Efficiency
While increased business can have some negative effects on a medical practice’s efficiency, this is certainly not to say that practice managers should limit their office’s growth. There are options available that can alleviate some of the burden an increased patient load can have on the business side of a practice. One of these options is using a medical billing service, like those offered by MBA Medical Business Associates, for your practice’s billing and claim filing. There are a number of advantages:
It allows the patients and their care to be the primary focus of everyone at the practice. Some offices and clinics may not be able to hire staff that focus solely on medical billing, which can put a strain on employees who have to handle that in addition to other office tasks.
It helps to reduces billing errors and ensure reimbursement. Our full-time medical billers are thoroughly trained and stay current with the latest changes and updates to ensure that every claim is accurate, filed in a timely manner and in compliance with all regulations and requirements.
It can save your practice money while increasing your revenue. For many practices, using an outside service for claim filing minimizes overhead costs by reducing the need to hire and train office staff and increases reimbursements by ensuring timely, accurate filing.
If your medical practice could benefit from a knowledgeable, efficient billing team, contact MBA Medical Business Associates today. Click here to request a consultation or call 866-622-2455.