As a medical practice, getting every dollar that is rightfully yours is critical to your future success and viability. Medical practices today must find new ways to reduce overhead, increase revenue and avoid increasing patient fees. Do you really think your in-house medical billing service is delivering the best value to accomplish those very things? Think again.

There are many myths in the medical billing industry. Among them is the myth that keeping your medical billing, coding and collections practices in-house saves you money. In fact, outsourcing your medical billing and collections services can increase your revenue and build your bottom line!

Let’s talk in percentages to drive home this point. What you may see as a 7 percent return with your in-house medical billing and collections personnel can jump to 14 percent on average when you outsource with revMD (formerly Asterino & Associates) and your ROI potentially doubles (triples?)!

It’s time to debunk the myths and know the facts about outsourced revenue cycle management. With revMD:

  • Increase revenue and build relationships rather than putting them at risk. The wrong in-house medical billing, coding and collections representatives can be rude or otherwise not engaged in interactions with patients and insurance companies and jeopardize business growth. It only takes one rude billing, coding and collections representative to reduce your revenue.
  • Quality control is guaranteed. Quality control decreases denied claims and increases revenue for services rendered. Managing quality control in-house is cumbersome and time consuming.
  • Greater revenue is assured. Faster turnaround for payments and consistent follow up and follow through by our medical billing, coding and collections team means no longer waiting for months to receive reimbursements from insurance companies and patients, losing track of reminders and follow ups and spending too much time and resources – with diminished results.
  • Human resource issues disappear. No more payroll, insurance and benefits worries. When you have staff members on your payroll, you have to worry about calculating hours and offering benefits. Spending precious time handling human resources issues detracts from seeing and treating more patients and building your practice.
  • Greater efficiency for your practice happens naturally. Costs decrease while practice revenue increases.
  • Physicians see more patients and spend more time doing what they do best. When physicians can shift their focus from managing billing, coding and collections personnel to providing critical care for their patients, they can keep patients happy while still reducing their overhead. This is one of the main reasons why physicians around the nation are outsourcing their medical billing, coding and collections functions.
  • Gain greater control. Many people think that an in-house medical billing and coding arrangement maintains the most control for revenue cycle management. That is far from the truth because overseeing your in-house billing, coding and collections team is cumbersome and can divide your time and your attention. Understandably, you cannot stand over your staff members to ensure everything is going well every hour of every day.

revMD, formerly known as Asterino & Associates, is the results-proven alternative for revenue cycle management . We are known industry wide for integrating financial operations and facilitating changing environmental conditions. Our team combines the convenience of a billing, coding and collections department down the hall with in-house levels of control while simultaneously providing the accountability of expert professionals responding instantly to the needs of our client practices with scalable revenue cycle management resources.

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