Deciding the right approach to your medical billing and coding is a key aspect of your agency as it directly influences your agency’s functional and financial stability at the same time.  

This crucial choice boils down to two primary choices: 

Maintaining an in-house billing and coding team. 

OR, 

Entrusting your practice’s financial aspects to an outsourced organization. 

The grappling challenges of staff shortages and stratospheric revenue is nothing new for you as a provider in the home health space.  

On the other hand, with increasing patient volume and changing administrative protocols it is difficult to handle the home health billing and coding tasks on your own.  

The thoughts of outsourcing might have crossed your mind, but you are still skeptical about the decision as it can make or break your practice.  

Let’s discuss how outsourcing to a home health billing company can be beneficial for your agency.

Expertise and experience: You will have access to a huge talent pool with immense expertise and experience by partnering with an outsourced company. These companies have trained professionals who have extensive knowledge of coding regulations and payors’ claim submission guidelines, offering you error free billing services.  

Increased efficiency and revenue: The billing companies have dedicated resources to handle the workload, resulting in quicker turnaround times in your home health revenue cycle. This increases the overall operational efficiency of your practice resulting in reduced claim denials and improved cash flow.  

Cost-savings: Hiring, training and retaining an in-house billing team demands extensive time and cost. You might end up spending a huge portion of your revenue on sustaining an in-house team. Also, you need to consider an ample amount of time and resources in sustaining the infrastructure as well.  

On the contrary, a remote team of expert medical billers and coders handles the process more effectively working at a fraction of your revenue.  

Access to technology: Outsourced billing companies use industry comprehensive technologies that maintain the benchmark of the RCM procedures. This way you have access to the latest technologies that further enhance your overall home health billing and coding services.  

Now, how to determine if outsourcing is right for you? 

First, analyze the needs of your practice and the current billing efficiency. If you are experiencing a high rate of claim delays and denials, you need to rethink your billing strategy.  

Second, consider the growth goals of your home health agency. While expanding an in-house team can put financial pressure and require more time and resources; an outsource team can provide you with seamless scalability.  

Third, calculate the ROI of maintaining an in-house team versus partnering with a home health billing company. You must consider the factors like employee salaries, benefits, infrastructure, billing software and so on.  

Final Thoughts 

Outsourcing to an RCM organization like Sunknowledge Services Inc. can offer you numerous benefits.  

From insurance eligibility verification and prior authorization to denial management and payment posting, the company has been providing end-to-end solutions to the providers across the country for more than a decade.  

At just $7 per hour, the experts provide you with bleeding-edge solutions and technologies that can direct your ROI into a positive direction.  

For those interested in exploring how Sunknowledge is the true next-door home health billing company, their experts are just a call away!