Whether to choose the in-house or the outsourced revenue cycle management (RCM) is a long-standing dilemma many healthcare practices face. As an ASC leader, you must not have an iota of doubt about how the billing process is the lifeline of your practice. When it is working well, everything fits well. But if and when any complication arises that is related to the billing, like non-collection of the payment or any executive dysfunction, your perception is bound to change.
Outsourcing the Ambulatory Surgical Centre billing process is one easy way to deal with the complexities of successful ASC operations. When you outsource, you allow a third party to handle the revenue cycle management on your behalf. It sounds like a no-brainer, but outsourcing is not the only solution for all healthcare operations. So let’s take a quick look at the top-most reasons for the ASC billing process outsourcing.
1.Low Costs, More Revenue- It might initially look like outsourcing is an expensive choice, but the reality is quite different. The truth is that the fee charged by the RCM experts depends on the increased efficiency and the improved rate of collections. On the other hand, the costs of acquiring the necessary software and their maintenance costs are an added burden for the in-house team. Do not even forget the hiring and training of your employees. All these costs together usually exceed the total amount than that you can pay for the billing outsourcing process. All this implies that lower the costs, higher the chances of more revenue will be higher as RCM partners also keep a close tab on factors like the rejected claims and the payer trends that come up during the billing.
2. Dedicated & Certified RCM team- As per today’s healthcare scenario, effective and efficient ASC medical billing and coding is directly proportionate to the updated policies, procedures, and processes. This is the key to outsourcing the ASC billing and coding. In fact, the RCM partners invest in keeping themselves updated with the latest regulatory and compliance policies. It can otherwise be expensive for you to keep your employees updated with these regulatory compliances.
3. Ability to scale up or down quickly– While you planning for growth, do you want any unexpected delays in filling your ASC medical bills? Obviously, not! An outsourced RCM solution offers you an appealing way of expanding your business without disturbing your present RCM cycle. You can also count on your RCM partner since they will always be there for you. No last-minute absence or temporary disruptions with employees calling in sick.
4. Focus on your patients and services- Wouldn’t you like to devote most of your time to serving your patients instead of bothering and worrying about the ASC billing and coding process? Enhance your productivity simply by letting your RCM partner take away the stress of your daily ASC billing and coding. Provide your patients with exceptional care to grow in terms of business and revenue while managing the ASC billing and coding by us.
5. Help is Always around the Corner–ASC revenue cycle management is extremely complex. Yes, it might not be an easy decision to make when you have a stringent budget. But do take a moment to weigh the advantages and the disadvantages of outsourcing the ASC billing and coding. You need not take the stress alone. 24/7 Medical Billing Services can help!
We offer you proactive and integrated revenue cycle strategies that can improve cash flow and provide long-term profitability to any healthcare practice. We promise quality, transparency, and exceptional client service, which makes us the best partner for delivering outstanding results.
Read more: Know About ASC Billing Challenges