It costs your facility lots of money to hire full-time employees. You have to offer them a fair wage or salary. You also could be required to offer them benefits like paid time off, health insurance, and retirement savings accounts.
To keep your business’s costs under control, you need to limit the number of people that you hire to work for you. This means you only hire people to fill necessary roles in the daily operations of your company. For other tasks like RCM coding, you could save your business money by outsourcing them to qualified contractors.
Paying Only for Services Rendered
When you outsource your RCM coding, you only pay for the services that the contractors render. You do not compensate them on an hourly or daily basis. You only pay for the actual time that they spend coding the records that you send to them.
For some contractors, it may only take a matter of minutes to code a single record. That means you end up paying this individual a fraction of the amount it would have cost you to hire him or her to work for your business as an employee.
You also do not have to offer benefits that are paid for directly out of your operating budget. You end up getting the coding done for hundreds or thousands of dollars less each month.
Fast Turnaround
Because coding contractors get paid for their productivity, they make a point of working as fast as they can without sacrificing accuracy. They can typically get records coded and sent back to you in a matter of hours rather than days. Their speediness benefits you because you get the records returned quickly.
To find more about outsourcing coding online, contact GeBBS Healthcare Solutions to learn what we can do for your business.
GeBBS Healthcare Solutions has been at the forefront of innovation in the offshore RCM, with technologies such as Intelligent Accounts Receivable (iAR) – an automated workflow solution designed to work with existing billing processes, offering advanced reporting, analytics, and sophisticated workflow processes.
