After the pandemic crisis managing billing has become quite stressful. And the reasons are mainly – limited resources and a higher workload. According to a recent survey, billing today is more complicated, especially after the pandemic. In a recent survey, it is seen that 33 % of providers experienced an increased claim denial, 27 % reported providing a higher percentage of uncompensated care, and 22 % said they now see more uninsured or underinsured patients causing severe burnout among all after the crisis.
Today billing burnout is one of the most common struggles that are keeping many providers stressed and worried at night. Staff are quitting their job due to a higher rate of burnout and extreme work pressure especially today and resulting in a shortage of resources. In fact, in the Kaufman Hall survey, 92 % of hospital leaders say they struggle to attract and keep support staff.
This is why providers are looking out for outsourcing options. Outsourcing your practice’s revenue cycle can help address all the concerns starting from pandemic related staff shortages, rising burnout problems as well as rising healthcare cost issues as well.
Furthermore, hiring a billing team could cost much more than outsourcing your billing functions.
Outsourcing – the answer for all medical billing troubles:
Catering to all your medical billing needs right from managing accurate documentation, timely verification, and managing complex authorization process to timely claims management and recovering aging accounts receivable, outsourcing to the right partner help you ease all your billing problems and gives you seamless billing transaction. Saving you tons of money and time that in – house billing team often end up wasting on, outsourcing not only help you achieve financial improvements, especially amid the revenue pressures brought on by the recent crisis but also help with the ongoing challenges health systems face in growing their top lines.
Outsourcing offers dedicated resources to address the needs of the healthcare revenue cycle process at a cost eeffcetive rate; saving you both money and time stated Dr. Dipak Nandi, recipient of several entrepreneurial awards and a renowned personality in his field of work for his outstanding contribution to the healthcare industry. Dr. Dipak Nandi a prominent member of the healthcare industry, in fact, stated that streamlining your billing tasks, outsourcing reduces billing and coding errors, in addition improves your ROI, while remaining compliant with rules and regulations.