What are the advantages and disadvantages of outsourced billing?
By consulting professionals in billing practices the expectation is that income should be increased and the percentage of outstanding payments should decrease, basically putting more money in your pocket faster. A professional billing company also has the time and expertise to keep abreast of business and regulatory changes which affect submission of claims and reimbursement. By outsourcing there is obviously added cost for doing business since the billing company will invoice for services rendered. The mental health provider may have to alter current business practices to conform to the dictates of the billing company. Depending on the contract terms, the provider may be locked into a relationship with the billing company and may not be able to terminate without penalty.