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Considering Outsourcing Your Practice’s Billing Function?

There is no doubt today’s health care billing and reimbursement functions are ever-changing and evolving to suit the advancements of technology and the “going green” trend.  Along with the constant insurance carrier policy change, finding and keeping an in-house billing staff is becoming more difficult to maintain. 

While reimbursement rates are down & the cost for hardworking and knowledgeable employees are on the rise, medical practices dealing with these headaches have an opportunity to eliminate these issues:  Outsource the billing and revenue cycle management function to a reputable and established billing service.

Here's Why:

Staff Turnover: Office staff turnover is almost always an issue.  Staff with an in-depth knowledge of the billing industry and a good work ethic is difficult to find and maintain.

Keeping Up: With 1 or 2 in-house employees handling the billing function, who is being trained and keeping track of health care billing and reimbursement policy changes and legislation and still maintaining an efficient billing function?

Time: The everyday tasks of handling claims, reimbursements, & accounts receivable in an effective manner is overwhelming for just 1 or 2 people in most scenarios, thus revenue is not maximized.

Distractions: Distractions around a busy medical office setting leaves lost time for billing and collections, but the in-house employee gets paid for that lost time regardless.

Additional Expenses: The time and expense of maintaining effective state-of-the-art practice management software and other critical office solutions with proper staff training is a HUGE burden in most scenarios.

Our Team: MPS employs highly qualified & experienced health care billing professionals. There is never a reliance on 1 or 2 people, you are partnering with our entire team.

Education: Involved and participating with several national health care management associations, MPS is consistently educated on policy changes, legislation, technology advancement, etc. without ever losing time handling physician accounts.

Focus: MPS professionally handles health care billing and revenue cycle management efficiently 100% of the time on a full-time basis with no distractions - allowing faster turnaround time on insurance & patient reimbursement with fewer denials, thus maximizing revenue.

Front Office Relief: Billing related calls from patients or insurance companies are directed to us, alleviating time and energy for you and your staff, allowing more focus on patient care.

Technology: MPS uses the most up-to-date practice management software at no expense to the physician. We are also constantly exploring the best available office solutions to offer to your medical practice. Plus, MPS conducts full on-site training for your staff at no charge.

Actual costs of outsourcing to a billing company is very comparable to having an in-house biller. The difference: Realizing maximum revenue potential. We have put together an approximate expense comparison - see below.

Note: Annual expenses based on $500,000.00 in annual revenue

Medical Professional Services, Inc. - Medical billing, revenue cycle, & practice management services for physicians and group practices in VA, MD, & DC.
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©1997-2011 Medical Professional Services, Inc. - A Medical Billing Company providing Billing and Practice Management Services
7514 Diplomat Drive Ste 201 Manassas, VA 20109 | Phone: 703-249-8500 | Email: info@medicalprofessionalservices.com