They say that company overhead walks on two feet. Should your business hire a billing specialist? There are many advantages to hiring one.
Better Revenue Cycle
By hiring a billing specialist, you’ll have someone to provide a clear explanation to clients. Rather than being passed around a team, there will be a single point of contact. Your billing specialist will ideally be knowledgeable about most situations. It’ll prevent client frustration and expedite bill payments. Sometimes you’ll even be able to implement same-day billing. All of these improvements help drive the bottom line. Bill payment is an often-ignored part of client service, but it’s very necessary to keep the business going.
Billing requires attention to detail. If it’s yet another task that is thrust upon an employee, service will suffer. A specialized biller will be able to verify the accuracy of your records. Claims will be formatted properly, and they’ll know the required information of each client.
If they have enough time, a specialized biller can go after documentation errors. These include things like a failure to note the time and plac\e of service. They can fix errors with billing units. Your record-keeping will have fewer policy violations.
A specialized biller will be able to completely focus on the tasks at hand. That means fewer mistakes. You’ll be paid the correct amount. Additionally, future mistakes can be avoided.
Electronic billing is preferred by most clients. It’s far more convenient and easier to keep track of. On your end, it’s more efficient and reduces administrative costs. You’ll spend less on things like postage and paper. If billing is just a random task handed off to employees, you won’t have the time to implement an electronic solution. Software tools usually require some training in administrative procedures. By having a dedicated employee, you might be able to apply a solution.
Identify Billing Efficiencies
Most business procedures have some sort of billing inefficiencies that can be removed. If billing is just a chore done by a random employee, they’ll never be noticed. But by having a billing specialist, they’ll be more easily identified.
Having a billing specialist can be a great addition to a team. Your business should consider one today.