Outsourcing Your Medical Billing, Auditing, and Credentialing
Medical Billing, Credentialing, and Auditing can be a challenging task for any medical practice, which is why many physicians or practice managers choose to outsource them to professional companies. However, you need to vet the company you hire for these services. To know more, keep reading!
Every healthcare practice or facility needs billing, periodic internal audits, credentialing, and re-credentialing.
Most healthcare providers outsource these needs because it makes healthcare practice a lot easier, increases revenue, and ensures compliance.
WHAT HAPPENS IF YOU CHOOSE TO OUTSOURCE?
Outsourcing has become mainstream. A health care provider’s primary responsibility is to take care of patients, but billing, revenue collection, credentialing and audit are essential to sustain the practice.
Moreover, the plethora of regulations, codes, documentation, policies, HIPAA compliance requirements, and the specifics in medical billing and credentialing makes it challenging to run a medical practice without an expert taking care of those aspects.
But how to decide whether to have on-staff experts or outsource to
a professional company?
Let’s take a look at this: having an in-house biller can be
expensive when you consider payroll, benefits, vacation time, office supplies,
office space, and the upkeep of medical billing software. Let’s face it; your
biller will go on vacation or get sick, and that may actually delay your claims
Many healthcare practices undervalue credentialing and periodic audits, and only after having problems in reimbursement, prepayment reviews or delays in contracting they go to professionals and ask for help.
Choosing to outsource the medical billing, auditing, and credentialing is more effective since you will have a steady team of organized and dedicated people who can help you keep your business running like a well-oiled machine no matter what.
With more time to take care of your patients and relax, you will be able to improve the quality of your services, ensuring a more satisfied patient base. At the same time, your practice will be in compliance with the necessary regulations, keeping you both legally and financially protected while ensuring efficient revenue collection.
Improper billing, wrong credentialing, and lack of proper documentation may cost practices a lot in terms of revenue leakages and the legal and financial consequences of poor compliance to regulations. When making a decision on how to outsource your billing, credentialing, or auditing needs, your goal should be to make sure you get the right professional who desires to help you improve your practice.
Why outsource? The benefits of outsourcing
The benefits of outsourcing include the following:
1. More focus on patient care: Spend more time on what you do best — patient care. Physicians cannot be efficient at providing excellent patient care if they are bogged down by organizing and managing billing and credentialing processes.
2. No more errors: At WCH, we are experts in Billing and Credentialing, and have certified professionals in coding and auditing with over 19 years of experience. With a professional team, healthcare providers can be confident in the well-being of their practice.
3. Saving money: By outsourcing, you can save thousands of dollars in annual salaries and benefits, training, and maintaining billing software and computer equipment, as well as preventing losses due to errors or noncompliance.
4. Improving cash flow: At WCH, we always help our clients to improve cash flow by ensuring timely and efficient billing and credentialing. By using our services, providers are confident in getting a continuous, steady cash flow.
5. Improving patient satisfaction: Free from management and financial headaches, you can focus on satisfying your patients!
6. Ensuring compliance: Healthcare is an ever-changing industry. One reason that makes medical billing, credentialing, and documenting a challenge is keeping up with the changes in policies, guidelines, and regulations. With WCH, you won’t have to worry about compliance.
7. Increasing revenue: Reduction in overhead costs, timely submission of medical claims, increased reimbursements, and higher profit margins are some of the advantages of letting professionals help your practice.
Leverage WCH Expertise
WCH specializes in Medical Billing, Auditing, and Credentialing and having been in the business for close to 20 years. We use our expertise to reduce denials and get you paid faster. At WCH, we have systems in place that ensure submission of clean claims — with more than 98% accuracy. Since 2001, WCH has been a leader in Medical Billing, Software Developing, Auditing, and Credentialing. WCH is distinguished by professionalism and will always work in your best interest, carrying you along at every step.
Call Us Today!