Outsourcing medical billing: can it throw your practice a pandemic lifeline?

Pre-COVID, medical practice managers and administrators were already juggling an eye-watering list of responsibilities and obligations. Now, during the pandemic, they also have to contend with the added pressures of running a safe, compliant and profitable practice during the most challenging time in recent history.

The big question

How do we continue to treat our patients while protecting our team? What changes do we need to make to minimize transmission risk? How have our reporting obligations changed and how will we meet them? Are we staying compliant with changing state and federal regulations? Do we have enough PPE?

These are all questions practice managers now have to ask themselves on a daily basis. However, the most important question is always: are we getting paid? Not because profits are more important than patients, or staff, or safety. But because without strong billing processes and a secure revenue cycle, your practice isn’t equipped to service those other critical priorities.

PPE costs money. Reducing your patient numbers costs money. Diverting staff and resources towards enhanced safety protocols costs money. But eight months into the pandemic, you already know this. You’re likely feeling the pressure, your resources are stretched, and with no end to the pandemic in sight, you know that something has to give eventually. 

Or does it? Even during easier times, outsourcing your medical billing to a competent billing service can relieve you of a major responsibility. It frees up space in your office and time in your schedule, so that you can invest your resources where they’re most needed. It costs money of course, but when you factor in benefits like ultra-efficiency, maximized reimbursements and minimized payer denials, it pays for itself many times over.

Now, when your resources are more valuable – and more stretched – than ever, outsourcing your medical billing goes from convenient to downright lifesaving. It also solves the very timely problem of offsite staff management.

Outsourced vs in-house/at-home

If you have an in-house billing team, letting them work remotely from home might seem like a simple way to minimize risk. After all, they don’t need to interact with patients; they just need a computer and an internet connection. However, this “simple solution” brings its own set of problems.

First, OSHA doesn’t care where your staff are sitting! As long as they’re on the job, you’re legally obligated to manage their health and safety risks, and you’re still responsible for any work-related injuries or ill health. Bad back from working on the sofa? That’s on you, boss!

Then there’s HIPAA. You’re still ultimately responsible for the security of your patients’ medical and financial data. How do you know that your staff aren’t leaving printouts on the dining table? Or that their work computer doesn’t become the kids’ gaming computer when they clock off for the day?

Before you start sending out memos about ergonomic chairs and Minecraft, think about the simpler option: outsource your medical billing. Not only can you rest assured your billing is being handled by experts, but you can breathe easy knowing that those experts are somebody else’s responsibility.

Let’s be honest, the pandemic is showing no signs of slowing down. Your list of obligations grows by the day, so it’s worth making sure the lifeblood of your practice always gets the full attention it needs and deserves. Because let’s face it, if your billing cycle isn’t strong, neither is your practice, and all your efforts to survive and thrive may well end up being in vain.

If you’re ready to lighten your load, hand over your medical billing to an experienced company like Ideal Practice Solutions. With over 50 years’ expertise in medical billing and practice management, we’re well-equipped to help you and your practice to weather this pandemic and come out the other side stronger. Schedule a consultation and get a free practice analysis now (worth $2500.00)