Like any business, the operation of a medical practice is highly dependent on having skilled, quality staff in place. Yet when it comes to billing, you may find challenges with finding, retaining and managing these professionals. There’s a very niche area of knowledge and experience required to perform the job effectively, and it takes someone with the inherent desire to bill, file claims and collect the money you’ve worked so hard for. RCM360® has this knowledge and passion, and we’re ready to leverage it on your behalf.
Outsource your billing to RCM360® and avoid the many staffing challenges you may be facing in your practice:
- You’re experiencing staff loss and high turnover. A recent study indicated an ever- increasing turnover rate in the health care industry, which has the second highest turnover rate of any industry in the US. This indicates that medical billing professionals are changing jobs now more than ever, and that poses problems for your billing and collections. You may find yourself in an endless cycle of finding qualified candidates, hiring, and training. This costs time, money, and lack of continuity for your practice.
- You’re growing. Growth is a great thing, but it can also bring some pains. You may find that your current staff is stretched too thin to get billing out in a timely manner. And if a rejection comes in, who knows where that will rank on your staff’s to-do list. Perhaps you know you need to hire, but are unable to find the talent you can trust.
- The talent pool is small. You’re seeking someone with a specific set of skills and talent who must have knowledge of both medical billing and coding. One minor error could result in rejection and delay of payment – or no payment at all.
- You’re having trouble managing the billing staff. A growing team requires growing management needs. Someone must oversee day-to-day operations and time management, ensure the work is covered when a team member goes on vacation, deal with performance or relationship problems, hire, fire and train. If there’s not someone dedicated to this, things can quickly go awry for your practice’s billing.
- Things aren’t adding up. You suspect big problems. No one wants to face or believe something like this could happen, but when it does it’s very costly. We’re talking about embezzlement, which MGMA reports costs a median annual loss of $437,000 to health care organizations. If your team is stretched too thin and not being properly managed with appropriate checks and balances in place, this could happen to you too.
Do any of the above sound familiar? You’re not alone, and RCM360® is here to help. We’ll provide the hands-on services you need to not only get your billing back on track, clean up aging AR and rejected claims and increase your cash flow, we take the ongoing management of billing and collections off your hands so you can focus on running and growing your practice.