Why Outsourcing Imaging Centers Billing is a Game-Changer

In today’s dynamic healthcare environment, professional and effective billing processes are useful in practice viability and imaging centers are no exception. As the patient volume grows, and a constantly rising number of regulations appears, imaging center billing administration may become unmanageable within the organization.

This article looks at the difficulties of billing services in imaging centers and why outsourcing professional imaging centers’ billing service might be a turning point.

Imaging Center Billing: An Insight of Its Complexity

There are a number of issues that are specific to billing in imaging centers. Imaging centers face a large number of claims related to highly specialized services that mainly consist of MRI scans, CT scans, and ultrasound. To do this it is necessary to adhere to coding guidelines, payer’s requirements and reimbursement rules.

Failing to manage these processes efficiently can lead to:

• High rate of claim denials
• A surge in accounts receivable days
• Delayed or reduced reimbursements.

Furthermore, managing these tasks internally require substantial investment in technology tools, skilled manpower and resources which is difficult when you are already dealing with revenue leakage and immense work volume.

The Case of Outsourced Imaging Center Billing

Let us accept that imaging center billing services is not fun work and exciting to report. Sometime even for an experienced radiologist it becomes tense and complicated.

It has grown increasingly to be a workflow and system that demands subject matter specialists in a number of areas.

When imaging center billing services are done internally, this requires competent heads that are always overhauled. Are you willing to make advancements in your medical setting, by going full force with outsourcing?

If you are confused whether to hire outsourced billing professionals then, these signs are worth a look.

1. Burdening stress: Is your workforce exhausted, or do you find that your employees feel compelled to complete as many tasks as possible within a given day? Doctors are complaining about an increase in fatigue level due to a surge in bureaucratic pressure on themselves and staff members. This is due to a complicated billing process and intricate coding and claim submission requirements.
2. Decreased productivity: This could be of the essence when the overall efficiency in the practice’s total workflow decreases and hence the need to outsource imaging center billing. This way, the staff is able to focus on patients’ critical functions and important tasks, yet at the same time, a skilled professional billing crew monitors patient-oriented claims to guarantee efficient billing processes.
3. Dependence on Patient Payments: In every setting, there is a growing trend, or at least a shift toward the patient being charged for services. Fortunately, speaking with an experienced vendor of medical billing services may help your company develop a plan for how it can continue to grow revenues in light of this disruption.

What are the Benefits of Having an Outsourced Billing Partner?

Outsourcing your imaging center billing solutions is a crucial decision for your practice as it can make or break your business. Numerous providers and healthcare facilities are still skeptical about outsourced medical billing services considering the financial and business risks intertwined with it.

However, here are some of the undeniable benefits of partnering with a third-party organization for revenue cycle management-

1. Improved Revenue Cycle Management:

Imaging center billing services with outside vendors facilitate right coding of procedures, timely submission of claims and follow up. This results in better management of reimbursement and a smaller number of AR days.

2. Access to Expertise:

Most of the professional imaging centers billing companies work with qualified and professional billing specialists, who constantly update themselves on any changes in the laws and guidelines. This in turn increases the approval of claims and reduces the degree of mistakes within the billing and coding process.

3. Cost Efficiency:

By outsourcing billing, imaging centers eliminate the need to hire and train in-house billing staff, maintain software, or invest in compliance training, resulting in significant cost savings.

4. Focus on Core Operations:

Outsourcing helps in the freeing of the employee through the delegation of administrative tasks enabling you to channel the efforts towards your core business, that is, the patients’ care among other areas.

5. Scalability and Flexibility:

Indeed, outsourced billing companies will be in a position to handle the increasing volumes of patients attending imaging centers without compromising the quality of their services.

Key Features of a Reliable Revenue Cycle Management Company

• Expertise and experience in the industry
• Use of the latest technology and industry comprehensive practices
• Extensive knowledge of industry standards, coding regulations and claim submission guidelines
• Transparency within the process
• Cost-effectiveness
• Consistent customer support
• Dedicated account management
• Elaborate and periodic data analysis and reporting

Conclusion

The ability to reconcile bills as quickly as possible is very important to the success of imaging centers. The imaging center billing can be very challenging and even overwhelms the internal staff leading to poor revenue and poor operations. When you rely on professional imaging centers billing service provider, you can leverage the benefit of improved on revenue cycle, shortened AR days and a lot of time to concentrate on patients.

When outsourcing to the right imaging centers billing services, your practice will enjoy stable and continuous growth amidst the growing and challenging healthcare market.