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In-House Medical Billing Vs Outsourced Medical Billing - A Mega Debate

This is show-down between Mr Napolean Gates and Ms Grechen Rose.

                  Ms Gretchen Rose

Occupation:

Practice Manager (10 yrs)

Medical Practice:

Wellbeing Medical Practice

She ensures efficient Medical Billing through inhouse Medical Billing teams. She advises keeping the process inhouse for better control and privacy.

Mr Napolean Gate                   

Occupation:

CEO (12 yrs)

Medical Practice:

Healthwise Practice

He efficiently managed the Medical Practice by outsourcing the Medical Billing process to a third party. He advises outsourcing the administrative tasks for optimal results.

We invite these professionals today, to debate. They will counter each other comments regarding which approach towards Medical Billing is better.

Arbitrator: Starting statement

An efficient Medical Billing process is crucial for Medical Practice's Revenue Growth. I request my guests, Ms Gretchen and Mr Napolean to share their experiences regarding Medical Billing Process at their respective Medical Practice.

If you two can share a few positives from your respective experiences, before we jump into counter arguments, that would help set stage for this debate.

Ms Gretchen

Practitioners at the practice are able to focus on the patients along with being involved in the Medical Billing process. We prioritize complete control over our claims data and realized that with doctors’ involvement, errors in the claims can be quickly corrected.

The billing staff at my practice is highly efficient, they allocate a few minutes per day to discuss the discrepancies and then leave the doctors to the patients.

Mr Napolean

With outsourcing I get to share the billing expertise of my Medical Billing company which enables a fast medical billing process with quicker reimbursements. Their protocols for claim creation plus the efficient claim scrubbing, eligibility checks, claim tracking enables a high first-time pass rate, positively impacting my Practice’s revenue growth.


Ms Gretchen

Keeping the process inhouse provide complete patient data privacy. It enables the practice to maintain data safety standards without any threat for data phishing or miss-use of patient data. More so, the billing software used by the billing team at my practice comes with all the features including scrubber, eligibility checker, claim tracker, dashboards etc which ensure strict monitoring of KPIs against the industry standards.

Mr Napolean

Doctors at the Medical Practice deserve a stress-free work environment where they do not have to worry about claim creation, submission or reimbursements. I prioritize a stress-free Practice environment for the practitioners at my Medical Practice.

Outsourcing the Medical Billing process enabled such a stress-free environment plus enabled me to lower administrative costs. Our provider is efficient and takes care of the whole claim life cycle management without taking up my staff’s time.

Outsourcing prevented excess hiring for claim creation, submission etc. The staff at the practice are able to focus on the patients. This resulted in efficient service care quality.


Ms Gretchen

The Medical Billing and Practice Management software we use at the practice comes preloaded with industry specific rules. Also, the advanced features in the software learns by the mistakes plus updates itself as per the industry changes. I am never worried about outdated process.

The billing team at my practice maintains a systematic approach towards credentialing and enrollment, so far in the last 10 ten years, I faced no complications due to credentialing discrepancies.

As for training the staff, that is a one-time investment where as the billing company need to be paid monthly.

Mr Napolean

Medical Billing industry is constantly evolving changing the rules (cms) and regulation sometimes twice in a year. Outsourcing frees my practice the added worry to keep up with the changes. The third-party company is efficient and adjusts our data as per the change in the cms rules.

Outsourcing not only safes me risk of legal complication by maintaining thorough checks on compliance rule and proactive credentialing updates but also saves me from excess expense that would otherwise be required to train the staff.

Arbitrator:

Thank you, we have all the required information about outsourcing and in-house medical billing process.

An important point that came to light is, both these approaches required trained supervisor who could understand the requirements at the practice and maintain smooth working at, either the billing company or amongst the billing teams.

Another point was the dependence on technology for the Medical Billing Process. Hence, it can be deduced that Ms Gretchen' medical billing success is due to the excellent medical billing software that is used at the practice plus the expert teams operating the software whereas Mr Napolean’s stress fee billing is due to his complete trust in the third-party medical billing service and technology.

Ms Gretchen

Look at the purpose of having a smooth Medical Billing process i.e, reduced administrative burdens, increased profits, fast cash flow and transparent workflows. If your inhouse team is capable and dependable, driving all these results, than inhouse billing is the best, it not only allows you complete control over the process but enables you to act faster with less overhead costs.

Mr Napolean

I agree to Ms Gretchens statement about understanding the purpose of the having an optimal medical billing process but also keep in focus the aim of the Medical Practitioners. Its better to have a third party take care of your administrative tasks while the doctors at your practice are left to take care of the patients.

Arbitrator:

Thank you, we are all set to get into a debate now.

Day 2 will focus on one of the aspects of the Medical Billing Process. Ms Gretchen and Mr Napolean will counter argue based on facts and experience.

Stay tuned for Day 2. It's beginning to get excited!

AltuMED is a Medical Billing Service and Solution Company that understands the importance of prompt, systematic Medical Billing Performance Analysis. Why not contact us for a complimentary analysis that can help us understand the reason for increase in your AR rate?

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