In a recent study, almost 50 to 60 percent of the increase in FTEs has been observed handling billing and collection process by most of the healthcare practices even though there isn’t much increase in the revenue. Moreover, at times the revenue fraction has even remained static or even decreased in some cases, which is why it becomes very difficult for healthcare practices to maintain a seamless billing operation for a longer time.
With everyday evolving technology and shifting billing regulations, finding experienced staff managing your complete medical billing solution at a cost-effective rate is quite impossible. In fact, the staffing challenge is one of the issues which is the most complicated situation to resolve for many smaller and medium healthcare practices especially with the encounter of the recent crisis situation. This is why the option of outsourcing your revenue cycle management today is one of the most effective and convenient solutions which healthcare practices are embracing readily.
Eliminating all the unnecessary and ancillary costs of employees which includes taxes, benefits, workspace, employee training sessions, etc. outsourcing your revenue cycle management not only ensures an effective billing and collection process but also ensures a faster reimbursement solution. Canceling all the inevitable downtime for your practice that you end up wasting on staff training, upgrades, and maintenance issues, outsourcing with its pool of experts helps in overall operational cost reduction.
Providing the healthcare practice access to the leading edge, best in class technology, outsourcing further eliminates all the complex billing challenges with customized reporting and access to real-time in-depth reports that show you exactly where your money is while further saving a lot of time and resources of the healthcare practices.
Recipient of several entrepreneurial awards, Dr. Dipak Nandi, a proud member of the prestigious AIIMS alumni and a board-certified psychiatrist today is involved across the United States and India with key strategic initiatives in healthcare services like medical billing and telemedicine services. Being a pioneer in the field of healthcare outsourcing and telehealth solutions, Dr. Nandi has been the Managing Partner of Customer-First IT solutions provider. With a vision of offering a complete RCM and telemedicine support under one roof at a cost-effective rate, Dr. Nandi today is the part of the healthcare domain for more than a decade in fact observed, having a seamless RCM solution is in fact the key towards successful billing operation.