Why
Outsource? Oftentimes physicians are hesitant to
outsource their billing due to fear of losing control over
their Accounts Receivable. However, keeping the billing
in-house is not a guarantee of control. Lack of a dependable
staff that possesses coding knowledge, employee turnover,
and failure to tend to never-ending follow-up are problems
when combined, or by themselves, can lead A/R to quickly
spin out of control.
When utilizing the services of Guardian, a physician or
office manager can maintain control over their A/R by reviewing
the totals of the practice’s Aging Reports on a regular
basis. In addition, Guardian offers physicians and office
managers remote access to their practice’s stats,
which may be viewed on a daily basis if desired.
Outsourcing dramatically reduces expenses for payroll, payroll
and unemployment tax, health and disability insurance, pensions,
profit sharing plans, supplies, postage, office equipment,
necessary educational expenses, sick pay, personal and vacation
time, supervision, as well as the cost of expensive software
upgrades and support. Less office space is required, lending
the area to be used for additional exam rooms, or just less
space rented. Gone are the problems encountered with employee
turnover, personnel issues and the challenge of finding
qualified, reliable staff. Time and labor spent on training
are eliminated.
Industry
average shows that 30% of all claims submitted are returned,
or unpaid due to errors. Up to 15% of these claims are never
resubmitted, resulting in lost revenue.