Medicine is a field that is constantly evolving and revolutionizing – out of the many specializations that exists, there can be no doubt that chiropractics is gaining more and more interest and recognition. However, being a chiropractor and running your own medical service means that you not only have to worry about your patients’ welfare, but also running a whole hospital, from billing to insurance follow-ups, which is not easy!
Here are the top five reasons why you should consider outsourcing that work to a medical billing specialist –
- Codes – A specialist is well-versed with the newly launched ICD-10 codes that are essential to proper filing and following-up of the insurance claims. In the previous system, the average chiropractic needed only about 75 codes a day or so; today, the number has tripled, since the codes are highly detail-oriented. From recording the data to presenting it properly, having a specialist to do it for you will definitely make things easy.
- Experience – It goes without saying that a specialist is experienced and has contacts that you probably don’t. They can expedite your claims, handle denied claims with finesse, maximize your profits and review your data to make sure you’re on the right track, so that your resources are better utilised.
- Administration – A specialist not only knows codes, but also handles the administrative side of things. They are experts at data-collection, recoding and processing, which leads to exact insurance follow-ups, a good payer and patient relationship, prompt collections and well-maintained, transparent electronic records so that you can focus on patient care instead.
- Reduce Costs and Increase Profits – If you hire your own staff, chances are that you’re going to have only one or two people to handle everything by themselves, and they may or may not well-trained. A specialist, on the other hand, is experienced, which means they cost far-less and can save you a lot of time and effort when it comes to training, technology upgrades, etc.
- Other Services – Specialists also often offer additional services like free-analysis of the data collected and presented, client reporting, patient feedback, etc.
Ultimately, a specialist frees up more of your time and energy so that you can devote it to your patient and his/her health!