Wednesday, November 5, 2014

Don’t leave money on the table - Why you should hire a billing company

I have had a private practice for 23 years and now a billing company for RDN’s – Bill it mnt .   I was able to meet many RDN’s that came over to our booth at the FNCE Marketplace.  It was interesting to hear their stories on billing.    The decision to hire a billing company or the software you use should be based on your unique practice.  If one has a small boutique type practice and sees less than 4 clients per day it maybe more cost effective to do your own claims.  On the other hand if you have a full time busy practice (7-10 clients per day) when are you going to have the time to do billing? 

Important questions to consider:
  • How valuable is your time? Billing is time consuming when you look beyond filling out claim forms.  The claim form needs to be filled out and submitted in a timely fashion or it will be denied.  Once you complete the claim form and submit it tracking payment and denials is just as important and takes time.
  • How much money are you going to leave on the table because you cannot chase denied claims or submit them in a timely fashion?  Many RDN’s are losing  $$ above the cost of doing business for this reason.  Many RDN’s told me the amount of money they are losing which was staggering.  One RDN told me she has 1 year of denied claims to settle. You are not in business to lose money.  Paying a company to do your billing will save you money otherwise don a blue coat and consider yourself a volunteer.
  • Will adding more hours to your day doing billing impact on your quality of life causing burnout? 
  • It is more profitable to see more clients and leave the billing to someone else – a staff member or an outside contractor?
If you want your practice to grow do what you do best while generating more income- see clients!

Free up your time and do more marketing to get more clients in the door!

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