1. Are you a new provider?
As a new provider, you more than likely have your plate full with new surroundings, new patients, new staff and new policies and procedures. If a new physician were to throw on top of that the duties of choosing, training and overseeing the billing process, that will inevitably take time away from the reason one got into the field in the first place, the patients.
2. Does your practice experience a high turnover rate?
Turnover in any part of the practice is a negative inevitability, but it can be extremely detrimental to your billing department. Changes in this department can lead to extreme lack of efficiency, which, in turn, can greatly damage the solid financial stability of any practice. After all, no billing going out means no finances coming in.
3. Do you feel that your current billing practice is effective and efficient?
Proper billing obviously does not end with entering the charges, the real work begins after this with the tedious process of working and calling on unpaid (or underpaid) claims from both insurance companies as well as patients. If your collections decrease steadily while the time that it takes to work old claims increases, one may have issues that may need to be addressed.
4. Do you have the time or resources to invest in billing technology?
Practice management software is an expensive investment, both in monetarily and in terms of times. Good software is updated and must be upgraded often. There also will be the inevitable technical glitches that must be dealt with. *If a physician answers yes to any of these questions, it may be time to look at the option of outsourcing your billing. **If you have any questions about whether or not you should outsource, please contact us for a consultation.**