Medical billing can be demanding and challenging!
This is true especially for small medical practices like HMEs and DMEs where a major challenge with their in-house medical billing services is the management of human resources. Outsourcing the medical billing process allows your human resource management department to contribute to the bottom line in many ways. It does not just address key aspects of HR’s traditional roles like high employee turnover, retention, and other administrative tasks. Instead, it allows HR to efficiently ensure billing compliance with HIPAA Security Rules.
Key Benefits of Outsourcing Medical Billing Process
Efficient HIPAA Security Rule Compliance
Once best known for traditional, personnel, and administrative tasks, the human resource department has emerged as an active body that coordinates with IT and medical billing partners to ensure HIPAA security rules compliance.
As foremost advocates of HIPAA security rule compliance, protecting PHI should be a priority for any HR staff. However, HR has so many pressing concerns, such as attracting and retaining talent, managing disciplinary issues, and controlling costs, that maintaining security of ePHI and ensuring HIPAA compliance often plays a second fiddle.
Outsourcing your medical billing process frees time for HR personnel and allows them to redirect resources to perform critical roles in ensuring HIPAA compliance. From filling gaps where data exposure can occur to developing access control lists on a regular basis, HR can focus on nurturing a culture that makes data privacy a priority.
Reduce Employee Turnover
The healthcare industry has the second highest turnover rate compared to any industry in the US. With medical billing professionals changing jobs now more than ever, it poses problems for medical billing and collections. As a consequence, you may find your HR department in an endless cycle of finding qualified candidates, hiring and training them, with little time for other critical roles. This not only costs money and time, and puts stress on the HR department, it also causes a lack of continuity which ultimately impedes growth.
Choosing reputable medical billing companies as an outsource partner takes the stress out of the recruiting and staffing role of HR. Thus, it allows your HR staff to spend more time focusing on what they do best – playing a vital role in ensuring the delivery of healthcare services and implementing industry best practices to improve patient satisfaction.
Human Resource personnel understand the importance of having the right people responsible for billing functions. Outsourcing your medical billing process gives you access to scalable teams of highly-trained medical billing experts, up-to-date on the latest medical billing regulations and compliance requirements.
Additionally, a good medical billing outsourcing partner gives you access to cutting-edge medical billing and Revenue Cycle Management (RCM) infrastructure, which otherwise can be prohibitively expensive. Thus, not only is outsourcing medical billing process cost-effective, but it also takes the stress off HR’s staffing challenges and saves cost and time that the HR department relies upon to scout talent and invest in staff training.
Reduce Overhead Costs
Small and medium-sized healthcare practices, like HMEs and DMEs, have increased financial pressure. Outsourcing your medical billing process shifts the onboarding and training costs to the seasoned team of medical billers, significantly reducing overhead costs. This further results in decreased team size requirements and fewer employee expenses. T the HR staff is able to focus on initiatives to increase employee productivity.
The Bottom Line Outsourcing the medical billing process helps improve the efficiency and effectiveness of HR in your workforce while also increasing flexibility and speed of response. Analytix Solutions works with DME and HME practices and businesses to identify and implement medical billing processes that can be streamlined and optimized. We are HIPAA compliant, possess an ISO certification for secure data, and offer flexible engagement models and payment structures. For more information, connect with us on [email protected].