You must be a larger company to outsource
Billing can be a tedious, time-consuming and expensive task, especially for small to medium-sized businesses looking to reduce costs. Outsourcing allows small business owners peace of mind that their revenue cycle is being properly and efficiently managed by a team of experts. Outsourcing also helps control and reduce business expenses and gives owners the time needed to focus on growth and expansion.
You lose control of your business when you outsource
At Advanced Hospice management, we value transparency and partnership. Everything we do is reported, trackable and completed with our client’s direct permission. We meet each month to discuss outstanding balances, generate revenue reports and keep comprehensive notes on any write-off. It’s our goal for our clients to feel like their biller is right down the hall.
Utilizing a third-party billing agency can negatively affect your compliance
Our team is well-versed in the ever-changing rules and regulations of hospice compliance. We even offer hospice regulatory solutions and education for our clients, ensuring your business not only understands how to navigate these rules but also stays up to date on any changes.
Outsourcing will prove to be less effective than an in-house department
In general, clients of Advanced Hospice Management can expect to see collections rates that average 98%, as opposed to the industry average of 90%.
We understand the apprehensions that come with using an outsourced billing company. There are a lot of common myths circulating that prevent many businesses from taking this step. However, working with a third-party billing company can prove to be beneficial and effective for many businesses. If you’re ready to experience a reduction in costs and an increase in returns, get in touch with our team today.