Outsourced Medical Billing
As physicians continue to face an increase in costly regulations and reduced reimbursement rates, many medical practices are looking more closely at the advantages of outsourcing billing. Global is an end-to-end RCM Outsourcing company that can help your practice reduce expenses, maximize revenues and increase profitability.
As a decision-maker in your practice, finding new ways to improve profitability is one of your top priorities. You may have considered investing in new technology, streamlining operations, cross-training employees, or outsourcing certain practice functions to reduce costs.
Outsourcing your medical billing and collections is one way to leverage technology, integrate processes and address staffing to improve your practice's financial health. In addition to the financial benefits, outsourcing also delivers operational rewards — such as greater efficiencies and more time spent on patient care.
Is Outsourcing Right For My Practice?
To determine if outsourcing is right for your practice, begin by putting together a cost analysis of your internal billing and collection functions as a percent of collections. This way, you'll be equipped to conduct a more comparable analysis when you receive a proposal from an outsourcing vendor.Try to quantify the necessary items and keep in mind where opportunities exist to improve.
Examples of Questions to Ask Yourself:
- Are you overstaffed or understaffed?
- Do you need to rein in expenses?
- Are you able to effectively manage denials and billing errors?
- Consider where you want to be and factor that into your analysis.
The right solution is to partner with an outsourcing organization that offers the best in both service and technology and maximizes your reimbursements, decreases denials and increases profitability.
Contact Global today to learn more about our outsourced medical billing solution for your practice.