Saving Money By Outsourcing Your Medical Billing
It is important to learn more about outsourcing your medical billing before you do so. I say this because many companies are choosing to outsource for specific reasons. Most companies are choosing to outsource because they want to save money. However, they often do not understand the laws behind medical billing and why it must be 100% United States law compliant.
A lot of overseas companies will make promises saying that they can get you higher returns and save you lots of money on your investment. However, you may not be aware of the fact that they don't often comply with USA laws. On October 1, 2015, the new codes were released for medical billers. We went from using ICD-9 to using ICD-10. There are over 100,000 codes in ICD-10. ICD-9 only had 14,000. This is a big difference since we have yet to see the full results of how medical billers will handle this.
Outsourcing your company requires important decisions. If you choose to outsource your billing, you will see success because these billers have been studying the field long before ICD-10 was release. Is it ever a good idea to outsource your billing to an overseas company? The answer to this question is hard to answer since you must look at several factors.
ICD-10 certification training is often taught in Universities. Many billers today have their certification and master's degrees in this field. Make sure that you check all of the credentials of the workers that will be working on your claims. You must obey all HIPAA laws. If you choose to work with an overseas company, make sure that you ask them if all of their workers are ICD-10 certified. They may say that some of them are or I think that they are. United States law requires all billers to have their ICD-10 certification if they are working on a USA physicians billing. Check with your attorney before outsourcing your billing. Many countries have their own sets of laws.
The laws are what is important more than money or anything else. You don't want to find your practice on the 7:00 p.m. news because you violated a HIPAA law. It is important to examine your intentions with saving money. Most medical billing companies in the USA do an excellent job and comply with United States laws because the employees are most always from the USA. Choosing a company takes time, discipline and a good know how of the future. Try to ask yourself what you would do if something went wrong? What is your plan? If you do choose to go ahead with an overseas company anyway, try to choose one that is reputable. Don't just call some random company hoping for the best. Some companies with a good reputation have that for a reason.
A lot of overseas companies will make promises saying that they can get you higher returns and save you lots of money on your investment. However, you may not be aware of the fact that they don't often comply with USA laws. On October 1, 2015, the new codes were released for medical billers. We went from using ICD-9 to using ICD-10. There are over 100,000 codes in ICD-10. ICD-9 only had 14,000. This is a big difference since we have yet to see the full results of how medical billers will handle this.
Outsourcing your company requires important decisions. If you choose to outsource your billing, you will see success because these billers have been studying the field long before ICD-10 was release. Is it ever a good idea to outsource your billing to an overseas company? The answer to this question is hard to answer since you must look at several factors.
ICD-10 certification training is often taught in Universities. Many billers today have their certification and master's degrees in this field. Make sure that you check all of the credentials of the workers that will be working on your claims. You must obey all HIPAA laws. If you choose to work with an overseas company, make sure that you ask them if all of their workers are ICD-10 certified. They may say that some of them are or I think that they are. United States law requires all billers to have their ICD-10 certification if they are working on a USA physicians billing. Check with your attorney before outsourcing your billing. Many countries have their own sets of laws.
The laws are what is important more than money or anything else. You don't want to find your practice on the 7:00 p.m. news because you violated a HIPAA law. It is important to examine your intentions with saving money. Most medical billing companies in the USA do an excellent job and comply with United States laws because the employees are most always from the USA. Choosing a company takes time, discipline and a good know how of the future. Try to ask yourself what you would do if something went wrong? What is your plan? If you do choose to go ahead with an overseas company anyway, try to choose one that is reputable. Don't just call some random company hoping for the best. Some companies with a good reputation have that for a reason.
About the Author:
Ideal Billing Solutions provides health coding services to organizations in all 50 states. We are ICD-10 certified and have many years of experience working with hospitals, rehabilitation centers and all kinds of health businesses. Hiring a health coding service takes time because you have to find one that works best for your practice.
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