Greater Economies of Scale – Experienced billing companies can offer huge economies of scale, which in turn makes their services less costly than if a center/practice tries to run its own internal operation.

Compliance – In today’s healthcare environment, legislative regulations change constantly which means that dedicated billing personnel must be assigned to attend industry seminars/webinars, assigned to read important bulletins, and interact with payers.

Improved Claims Accuracy – At Praxis, we perform audits on claims prior to being submitted to the insurance companies. This means accuracy going into the insurance company, means less denials coming back from the insurance companies.

Claims Follow-up – Lack of follow-up relating to unpaid claims is the largest problem we encounter in center/practice billing operations. Follow-up can be burdensome and time consuming; and there are always issues around timely filing.

Get Your Money Faster – Most center/practices with limited resources can’t designate multiple employees to concentrate on billing and collecting. Or struggle with the inability to configure electronic claims submission. This means longer times to submit the claims, longer wait times for paper claims, inconsistent follow-up, and your money ends up coming in later than it truly should.

Attracting and Maintaining Experienced Staff – The cost of recruiting, hiring, and training a new employee is approximately $3,500.00. By outsourcing your billing, you eliminate that expense entirely, and the common HR headaches of trying to juggle coverage for staff illness and vacations.

Reporting – A billing company worth its salt will have detailed monthly reports giving you a full picture of the financial health of your center/practice, as well as, trending details that help you tweak what problem areas that ultimately boost your profitability.

Pay for What is Received – Most outsourced billing companies work off of percentage of received revenue each month. So you only pay for the monies that were received – meaning if you don’t get paid, the billing company doesn’t get paid either.