In this post we discuss 3 topics your anesthesia practice should explore in regards to anesthesia billing companies; Outsourcing/Offshoring, Collections and Billing Fees. Knowing how a billing company runs their operations can help you understand if a billing company is skipping over too many revenue generating opportunities resulting in lost revenue.
More and more anesthesia billing companies are outsourcing/offshoring their operations to assist in lowering billing fees. While it’s not always a bad method, it can result in critical revenue generating steps of the billing process to be overlooked or skipped altogether. The truth is, you need to know more about what your anesthesia billing company is outsourcing/offshoring in order to find out if that lower billing fee may be resulting in more lost revenue than it’s worth.
With today’s technology, submitting 100% clean claims is nothing special. Simple charges are collected quickly and efficiently with continued advancements in automated technology. However, complex charges and difficult insurance companies require manpower, expertise and labor intensive attention to detail in the human form. Disregard for the human involvement needed in working directly with patients and insurance companies is simply the difference in a poor/average performance verses a superior performance from your anesthesia billing company.
Lower fees mean less investment in staff, technology, and time spent towards collection efforts. How could it be possible otherwise? The lowest priced company can’t afford all the necessary investments required to pursue complex charges and difficult insurance companies which can result in anesthesia providers losing money. Ask yourself, “Is your revenue stream performing poorly, on average or beyond your expectations?” The quality of the results may lie in the price you’re willing to pay.
abeo Management Corporation (abeo) serves as a leading source of revenue cycle management and practice management with a specialization in anesthesia. The company leverages its people, processes, and software to serve independent practices, surgery centers, hospitals and healthcare systems with a scope of services that include billing, coding, transcription, practice management, and business consulting.