We understand that the medical billing industry is evolving every time and more healthcare institutions are outsourcing their revenue cycle management process. This is a great advantage for you to focus on your patients.
Through our experience we have identified three game changing updates for your facility to improve its patient’s experience while the Smrtdo medical billing team takes care of the revenue.
The Payment experience
With the arrival of new technologies healthcare institutions must engage patients in a consumer-friendly manner and equip their billing staff with payment tools that create convenience.
It is important to consider that all the stages of the payment process from pre-visit to collection. According to the Consumer Healthcare Payments Survey: 80% of consumers prefer to pay their medical bills through an online channel, so you can consider an online payment portal that allows patients to pay their bills conveniently.
Keep in mind that having a portal is useful, but is more meaningful that your staff interacts with your patients on a daily basis. Ensure that your front desk team is trained to address all questions that patients may have about their balances and the solutions you provide to clear their bills.
Automation of the billing process.
As we know, implementing automation in the billing process is a huge step when it comes to cost and time saving, automation allows medical billers to work smart and faster. A medical billing software can completely take over tasks typically performed by the billing staff. This allows your staff to focus on the one thing that automation can’t do which is to interact with patients.
This is an opportunity for providers to enhance their billing process from all sides. While automation takes over manually intensive tasks like duplicate billing, incorrect modifiers and inaccurate patient information.
In-House vs. Outsourced Medical Billing
The medical billing outsourcing market is expected to reach $16.9 billion by 2021. It’s no surprise that many providers are choosing to outsource because of the changing healthcare regulations and the growing risk management and compliance concerns associated with in-house billing staff.
Whether you’re a brand new organization or an established practice thinking about making the switch, the right answer involves analyzing and taking inventory of what truly determines the need for in-house or outsourced medical billing, but we can tell by experience that outsourcing can relieve one of the most daunting aspects of the billing process, leaving you more time and effort to focus on your patient’s care.
With so many new trends emerging, it’s important for healthcare leaders to embrace these changes to find themselves at the forefront of the industry. Take care of our patients while we take care of your revenue is the smartest way to reach your goals. You can always send us a message to start a free audit and receive a tailored proposal.