We are excited to present this article from Laurie Morgan, consultant/partner at Capko & Morgan.
When you’ve made the decision to outsource your medical billing, it can feel like a huge weight is lifted off your – and your staff’s – shoulders. You might think, well, that’s handled now – hooray! But if you’re imagining that your staff no longer has a role in the revenue cycle, or that your billing service can do it all, you’re unlikely to get all the benefits you hoped for from your outsourced relationship.
The main reason your practice staff must work in concert with your billing service is the increasing proportion of revenues that are expected to come from patients directly. Sources like the AMA’s Health Insurer Report Card have found that health plans assume that an average of about a quarter of the total payment due for patient services will come from patients themselves. And with more patients moving onto ACA Exchange plans, that proportion is set to rise, because the popular bronze and silver tiers assume 40% and 30% of costs, respectively, will be paid by patients to their providers.
With patient payments becoming ever more important to practice profitability, explaining health plan terms and collecting from patients from inside the practice is essential. Practice employees need to work closely with your billing service to be sure they have all the information needed to help patients understand their health plan obligations. And everyone needs to work together to implement technology that supports both billing service staff and the practice team with tools to estimate patient payments and collect them at the time of service.
Working with a billing service can lead to fewer hassles and better billing results – if you choose wisely and manage the service effectively. To learn about best practices in managing and working with a medical billing service, view my complimentary 30-minute webinar, sponsored by Care360.