Healthcare is one of the key verticals poised for industry-specific BPO growth through 2020. According to a Gartner report, there is a huge demand for benefits administration BPO in the U.S. due to the changes in healthcare legislation. Medical Billing can be a demanding and challenging task for small medical practices. For this reason, many physicians outsource their medical office billing.
There are many advantages to outsourcing medical billing: it increases office efficiency, revenue, and ultimately, the income of a medical practice. Outsourcing of the claims billing process is designed to speed up the process of receiving payments, reduces a practice’s business expenses, and increases the efficiency of the medical practice’s revenue cycle.
Physicians cannot be efficient at providing excellent patient care if they are bogged down by the financial side of running a practice. Outsourcing medical billing saves time, money, and eliminates the burden of concentrating on too many aspects of the medical office.