In a fluctuating economic and regulatory environment, is outsourcing an attractive billing option for your practice? Multiple factors are prompting
clinicians to consider this possibility. “Regulatory requirements are constantly changing and it can be complicated to keep up with all of those changes,”
says Gary Clark, vice president, Revenue Cycle Solutions Division, Source Medical Solutions, Inc.
Outsourcing enables clinicians to leverage the expertise of quality billing services. Next year when ICD-10 compliance will be required, Clark says
experienced billing personnel will be essential. While it may be burdensome for clinical practices to keep up with the latest regulatory developments,
quality outsourcing companies remain informed on these issues.
“When you outsource your billing, you have specific coders who deal with retina procedures,” Clark says. “The service also has billers, payment and claims
people who deal specifically with retina procedures, so they understand what codes should be used, what the bill should look like and what the
reimbursement should be. Having dedicated personnel with experience in your specific specialty is of paramount importance.”
Resource Issues
On a practical level, outsourcing your billing may free up square footage and reduce overhead in your practice. Additionally, human resource challenges may
prompt clinicians to outsource billing. “For many surgeons and physicians, it’s difficult to find qualified people,” he says. This is particularly true in
rural settings, with smaller pools of experienced candidates. Outsourcing alleviates staffing concerns such as employee turnover and absences.
Evaluating Services
When searching for services, carefully scrutinize your candidates and consult colleagues for leads. “Ask your surgeons and other physicians in your
facilities who they’re currently using for billing,” Clark says.
“Many physicians say they’re concerned about losing that element of control when outsourcing,” Clark says. With Source Medical Solutions’ software,
facilities use the same system Source Medical uses for its billing; therefore, they have real-time access to all of their reporting. “You want to make sure
you have this type of access because some billing companies only furnish a report once a month,” he said. If the billing company has different software
than the physician’s office, the process will be less transparent. The physician’s office won’t have access to the day-to-day data, which is used by the
billing service to generate reports.
You also may want to determine where the work is performed. “Many physicians want their billing company to be located in the United States,” he says.
Finally, examine the billing company’s years in business, its references and its experience in retina specialty billing. “You definitely want to make sure
the billing service knows what it is doing, especially as it relates to your specialty,” Clark says.