In-house vs Outsourced Anesthesia Billing - PowerPoint PPT Presentation

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In-house vs Outsourced Anesthesia Billing

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Builds high quality, cost-effective anesthesia care to meet your unique needs with help of outsourcing services. – PowerPoint PPT presentation

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Title: In-house vs Outsourced Anesthesia Billing


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In-House vs. Outsourced Anesthesia Billing
  • www.mgsionline.com

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INTRODUCTION
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  • Medical billing and coding is the meticulous
    process of tracking and handling the medical
    claims efficiently between the providers and the
    payers to ensure the provider receives full
    reimbursement for the service rendered.
  • This signifies the importance of the medical
    billing process for any practice to keep their
    business running smoothly and successfully.
  • Every medical procedure differs by its scope and
    complexity.
  • Similarly, medical billing and coding processes
    and guidelines of billing differ by each
    specialty and require a specific team of skilled
    professionals to handle them productively.

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  • Anesthesia billing has its own complexity and can
    be more problematic than other specialties as
    unlike other billing where the payment is
    processed by fee-for-service, Anesthesia claims
    are paid by units, time, and modifiers used.
  • This makes the process even more complex for
    billing and coding, which also demands ample time
    of attention from the provider handling the
    billing process in- house. 
  • Read through the below discussed points to help
    yourself decide whether to keep your anesthesia
    billing in-house or to outsource.

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In house Anesthesia Billing   
  • Cons
  • Tedious and Challenging
  • As discussed above, in-house anesthesia billing
    requires close attention which is time-consuming
    for the provider added to the core job
    responsibility of patient care.
  • While in-house billing gives complete control and
    accessibility, it also obligates you to take sole
    responsibility and liability of the entire
    billing process
  • Comparatively Expensive 
  • Handling billing process in-house is
    comparatively expensive.
  • Practice and infrastructure cost, staffing,
    training, paying billers and coders, and covering
    employee benefits, investing in technology all
    put together will add up more than the cost
    of outsourcing your billing.
  • Pros
  • Retain Complete Control 
  • Having hands-on-control over the billing process
    and the team handling them is looked upon as an
    added advantage by many providers.
  • Working closely with experienced staff who have
    been with you and your business from scratch will
    boost your trust and comfort level in handling
    the process.

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In house Anesthesia Billing   
  • Pros
  • Process handled at close proximity 
  • Just walking across your office floor to look
    into or discuss any minor or major issue if any,
    gives you close accessibility to your billing
    process and the team.
  • It makes the execution of standard procedures
    and delegation of instructions much easier.

Pros ROI (Return on Investment)  Managing the
billing process in-house will ensure to keep the
finance under control, as even the trivial
process and matters are under the providers
purview for immediate attention and action, which
in-fact reduces unwanted expenses.
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Outsourced Anesthesia Billing
  • Cons
  • Less Control 
  • Outsourcing medical billing means less direct
    control of the process.
  • You no longer get the accessibility of your team
    by just walking across your office floor.
  • You dont have to get to the bottom of every
    trivial matter or error and issues of every claim
    to understand them.
  • However, if you have chosen your right partner
    you can rest assured that your billing is in the
    hands of experts in the medical billing field.
  • Pros
  • Cost-Effective 
  • Whether you are a start-up or a small practice
    set up, outsourcing your billing services makes
    the best sense for your finance.
  • A medical billing company provides you with an
    experienced billing team, thereby reducing your
    spending on a billing department.
  • The outsourced company takes care of the staff
    training, software, and hardware requirement of
    the billing team. This ascertains
    that outsourcing medical billing help reduces the
    cost of operation and increases revenue..
  • Hidden fee and Variable cost 
  • Keeping in mind that most companys only goal is
    to make money, it is likely that your medical
    billing partner may imply hidden charges.
  • To avoid getting trapped into any hidden charges,
    it is imperative while choosing your medical
    billing partner you need to be careful to check
    out their integrity and longevity along with
    their years of experience in the industry and
    choose a trustworthy medical billing partner.

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In house Anesthesia Billing   
  • Pros
  • Experienced Team 
  • An outsourced medical billing company has
    experienced and trained anesthesia billers and
    coders handling your claims efficiently.
  • The team with their vast experience and expertise
    handles every claim with the utmost care to
    ensure timely filing and reimbursement.
  • An outsourced medical billing company is
    compliant with HIPAA to safeguard your PHI and
    privacy policy.
  • Pros
  • More focus on patient care 
  • Being able to provide undivided attention to your
    core job patient care will help attract more
    patients and serve them better.
  • Outsourcing your medical billing can help relieve
    yourself from the hassle of getting involved in
    the billing process resulting in more time to
    focus on patient care!.

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About MGSI
  • MGSI is a 25yrs old national medical billing
    company based in Florida.
  • MGSI caters its services to Solo and group
    practices for 25 specialties in multiple states
    across
  • the country. MGSI is an A rated company with
    Better Business Bureau.
  • It is HIPAA compliant ensuring high levels of
    patient data and network security. To learn more
    details, log on to www.mgsionline.com

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THANKYou
  • Call Us 877-898-6474
  • Visit Us www.mgsionline.com
  • Mail Us info_at_mgsionline.com
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