Some healthcare providers may be hesitant to outsource their insurance claims billing to a third party. We understand your concern, considering how many myths there are about outsourced billers & coders. Let us debunk some of those.
Myth: Delegating your claims to a third-party company is dangerous in terms of PHI safety
Truth: Outsourced medical billing agencies are legally obliged to be HIPPA-compliant. With that being said, a third-party medical biller has to ensure that a Patient’s Health Information is immune to any data breaches. Medical billers are liable for unlawful disclosure of PHI. WCH Service Bureau uses sophisticated tools that have several “layers” of protection. iSmart EHR is a certified software that securely stores your claims and medical records.
Myth: Outsourced medical billing is expensive, and it is simply not worth its price
Truth: There are hundreds of options on the market that will best fit your needs. Not only does outsourced medical billing has attractive rates in most cases, but it also saves time – the most valuable resource that you may have!
Myth: Healthcare providers lose control over their finances when outsourcing insurance claims billing
Truth: Medical billers do not have access to your bank account! Submitting claims to insurances does not imply getting a full control of provider’s reimbursement flow. Yes, we can see how much you are getting paid for your claims, but it is just nothing but a number for us. Besides, software like WCH iSmart allows healthcare providers to track their claim/reimbursement flow 24/7 and request applicable changes.
Myth: Outsourcing insurance claims billing will only result in more irreversible denials because most medical billers are unqualified in claim collection.
Truth: Just like with everything in life, healthcare providers always need to pick the best option. When choosing a billing company, one needs to check its credentials and professional recognition. Agencies like WCH Service Bureau, which are recognized by Medicare, Medicaid, AAPC and various commercial payers will do the opposite thing for your claim flow. Should you trust your claims to the professionals – your denial rate will inevitably decrease.
Myth: In-house medical billing is a cheaper and more beneficial option
Truth: While you may prefer to directly supervise your billing flow, this is definitely not the cheapest option. First, an in-house position normally implies having a 9-5 schedule. Hourly wages for medical billing services are quite high regardless of a state. Second, hiring someone full-time requires signing an employment contract. With that in mind, you would need to pay additional taxes and insurance benefits for each of your new employees. At the same time, outsource agencies charge you for their work and not for a number of hours. Logically, such companies do not require any additional costs to be paid to the IRS or any other entity. Sounds convincing, isn’t it?
Ready to outsource your insurance claims billing? Contact us!