Family Practice Medical Billing | XyberMed￼
Family practice physicians are among the busiest medical professions in healthcare. They deal with a wide variety of patients on a regular basis, from children to elderly patients. Often, family physicians specialize in more than one medical specialty and have a variety of tasks to complete on a daily basis. Because of this, it can be difficult to keep track of back-end tasks like billing in family practice! Not to mention, billing professionals must have extensive knowledge of medical procedures and codes in the family practice setting in order to efficiently run the medical billing process. For this reason, many large and small family medicine practices are now taking advantage of professional family practice billing companies. Outsourcing helps practices avoid the stress and complications of medical billing and coding procedures.
family practice medical billing services: in-house practice vs. outsourcing
When it comes to medical billing and coding, family medicine practices have two options. They can either hire a back-end staff to handle billing and coding in-house, or they can work with a professional medical billing company and outsource the billing process. Due to the volume of billing and coding tasks, outsourcing is becoming a more common consideration for primary care practices. Considering their large client base, family medicine practices are responsible for a long list of medical procedures in various medical fields. This means that their billing staff must have extensive knowledge of medical billing and coding in order to get the job done efficiently. Often, it’s best to leave this task to proven professionals who specialize in billing and coding in primary care practices.
Here’s the good news. With much of healthcare going digital, outsourcing family practice billing is now easier than ever. There are many great medical billing and coding companies that can take over your entire revenue cycle management (RCM) process and do the work for you. Plus, it will likely save you money in the long run. Medical billers maximize family practice revenue, and you won’t have to spend money on medical billing software.
Why outsource family practice billing?
Why exactly should your family practice outsource medical billing? Quite simply, the advantages outweigh the disadvantages. For most family medicine practices today, medical billing services are the most beneficial method of managing medical billing and coding. Consider some of the reasons and key benefits.
Wide range of medical procedures
As mentioned earlier, primary care practices perform a wide variety of medical procedures in many different areas and specialties. As a result, your in-house billers would need to memorize hundreds of codes for procedures in order to properly bill for them. Independent billing experts who have this knowledge are hard to find. Not to mention that they are expensive in terms of salary! On the other hand, professional family practice billing services are highly trained in this area. They can help you achieve excellent results and save you money in the long run.
Customized billing for your needs
Many family medicine practices have unique billing needs. Most family practice billing companies will work with you to create a customized plan that meets your practice’s specific needs.
Billing and coding updates
Given the extensive list of medical procedures that family practice physicians perform on a regular basis, family practice billing professionals need to stay on top of billing and coding updates. This can be very time-consuming, but it is also very important! Professional medical billing companies build training and updates into their schedules so you don’t have to worry about errors.
Fewer errors and faster payment receipts
One of the main reasons to outsource your medical billing is to reduce errors and get paid faster. Professional medical billing Service companies are very experienced at this! The job of the medical billing service is to fill out your statements without errors, so claims are submitted faster and ultimately you get paid faster.
Similarly, it is in the best interest of medical billing companies to maximize your revenue. Their pricing model is often based on a percentage of the revenue they generate for your practice. So if they don’t help you get your money, they don’t get your money! Family medicine practices that work with medical billing companies typically see higher revenue because the service helps them collect patient balances efficiently and quickly.
Focus on patient care
When you no longer have to worry about medical billing yourself, your primary care physicians have more time to focus on patient care and patient satisfaction. Your workday becomes less stressful and you can focus on what you do best.