How it Pays to Resource your Medical Billing

I welcome every opportunity to talk with physicians who are interested in learning how Revenue Cycle Management services can impact their practice.  Their questions reveal a lot about their passion for medicine, their integrity, and their frustration with getting paid.

What about my staff?

One of the most frequently asked questions is “what will happen with my employees?”  My answer is always the same. I assure them that we “will empower them to better perform the work they were hired to do.”  Often confused, my prospect will follow-up with a question about how they will afford to pay for both our services AND the payroll expense that goes with retaining staff.

You see, the right Revenue Cycle Management (RCM) organization can make a positive financial impact that medical practices struggle to achieve and don’t have the resources to tackle.  An RCM company with proven performance should be viewed as an important resource NOT an outsourced medical billing company.

What is medical billing outsourcing?

Outsourcing diverts or dispenses work to a third party or outside organization in order to gain operational efficiencies and to realize productivity gains.   It allows medical practices to take advantage of existing workflows and processes at a much lower cost than developing them on their own.  This often results in a practice relinquishing control over things they don’t typically excel in.

Insourcing is typically done solely within the practice’s own infrastructure.  The responsibilities require greater controls and often result in a higher cost due to the absence of economies of scale that come with outsourcing.  Furthermore, location often is a consideration when insourcing  since adding additional operations to an existing site may be overwhelming for the medical practice.

How are we different?

Resourcing is the business of AssuranceMD.  Medical practices that engage in our services experience the full breadth of all the resources AssuranceMD brings to bear. Empowering employees and physicians to better serve their patients, providing useful tools to improve performance, training and support is what we believe makes us different.  Wouldn’t you rather have your staff interacting with a patient instead of an insurance company?

What does outsourcing cost?

Of course we must address the elephant in the room.  How can I afford to pay for this service?    The truth is, AssuranceMD’s services pay for itself.  You see, most medical practices only collect 30 cents on every dollar they are entitled to (yes, that includes you).  By bridging the divide between actual payments and reimbursable receipts, there is plenty of money to go around to pay everyone, including yourself. So much so…..I GUARANTEE IT!

Contact us to learn more about our performance guarantee.  Schedule a FREE consultation call today.