Outsourcing. Yay or Nay?

For most PT clinic owners, the decision to outsource the billing boils down to 2 things . . . cost and trust.

Cost: Will it cost more to outsource?

Trust: If the billing isn’t happening within my clinic walls, how can I be sure that it’s being done correctly, ethically and to the standards that I expect?

First, let take a look at the cost. . .

In-House: Hourly wages for 1-2 medical billing staff members, health care costs, federal and state taxes, training costs, sick pay, paid time off and office supplies (computer, printer, desk, chair, etc.)

Outsourced: A small percentage of the total incoming collections is to be paid. They don’t get paid, unless you get paid, which is a pretty big incentive to bust their butts to make sure that as much collections as possible are coming in.

Now, let talk about trust . . .

As a business owner I know that it’s incredibly challenging to let go of the reins of any part of the business, especially the incoming collections part! The billing department is the reason why you are able to do what you love . . . treat patients. Without a successful billing department your business is unable to thrive and you are unable to let go of the burden the weighs heavy on your mind. This is why it is SO important that you TRUST the person/people handling that department. If you outsource, how can you do that?

Choose a company or person that has an outstanding reputation within the PT community and who is extremely knowledgeable of Physical Therapy billing practices. Find out who they have worked with before and call them. Get the scoop and dig for the dirt. If you have contacted multiple sources and only hears praises, then I’ll bet you can let your guard down a bit and give it a shot.

It’s important that you trust your judgement and especially your gut. Once you’ve decided to give outsourcing a chance, pay close attention to what is happening. If there are still issues with your incoming number and things don’t seen right, then you better call them out on it and investigate why things aren’t going the way they should. You’re smart. You KNOW what’s right and wrong. But if your incoming revenue is skyrocketing and everything is running smoothly then you’ve found a winner!

Now I know this isn’t an easy decision but if your incoming revenue isn’t where you think it should be, then what have you got to lose?

Take the leap and contact Meridian Billing Services today.