Healthcare companies have a lot to juggle and a big task—keeping people healthy. When you add complicated billing procedures to the mix, it can mean a great deal of mistakes and significantly reduced returns for your company. Meanwhile, according to the Advanced Data Systems Corporation, outsourcing revenue cycle management can boost your company’s profits by 30%.
Revenue cycle management is increasingly complex, and our healthcare system is constantly changing. 54% of Americans say that their medical billing paperwork is “always” or “sometimes” confusing. 81% of small physician practices in the US report difficulties in communicating billing to patients. Patients who are unclear about what to pay and how are likely to send significantly delayed payments.
Medical billing companies like Aspire Health Care Solutions, who has been in the business for over 20 years, help you get paid faster. Our expertise helps us make complicated systems appear simple. At the same time, you don’t have to invest in hiring and training internal staff to learn complex billing systems. This means more revenue in, less revenue out.
At Aspire, our electronic claim submission system allows us to begin processing payments within 24 hours. But we don’t stop there; unlike many other revenue cycle management companies, we include a comprehensive follow-up plan to make sure no payment falls by the wayside.
This plan includes follow-up on unpaid claims, denial resolution and appeals, insurance inquiries and medical records, managing collections, resolving past due claims, and more. By going with an outside medical billing company, you can focus on what you do best—the health and well-being of your patients—while increasing your revenue.