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COLUMBIA, SC, March 23, 2022 /24-7PressRelease/ -- 24/7 Medical Billing Services has proved to be a pioneer in the field of medical billing and revenue cycle management (RCM) services for over a decade. It has been a key pillar of support for several healthcare organizations and medical billing companies through quality outsourcing services. Its recent contract with a South Carolina based medical billing company is a successful stride in the same direction poised to take both stakeholders to new heights.
The healthcare industry has seen a paradigm shift over the last couple of years, leading organizations to rethink many traditional aspects of their daily work keeping resource efficiency in mind.
"While having separate in-house departments for each function of an organization could seem like a mark of size and success, it poses a huge challenge in terms of humongous resources spent on hiring's, management, operations, and replacements in-house," notes Hariharsudan, Founder & CEO, 24/7 Medical Billing Services.
"More and more organizations are feeling the need to switch to a smarter solution instead, that allows you to focus on your core competencies while drawing assistance from external experts at a fraction of the traditional costs. This is where outsourcing steps in."
The major challenges faced by the medical billing company that 24/7 Medical Billing Services' strategic alliance intends to solve -
At its core, the South Carolina based medical billing company tries to ensure sound financial health for its clients, typically healthcare organizations. This makes the maintenance and management of billing and revenue records on a day-to-day basis both a foremost priority and a formidable challenge for them. To achieve this, the medical billing company has always worked with experienced minds, equipped with the requisite expertise for complete revenue cycle management.
However, with a flourishing clientele and expanding services, the company had been finding it difficult to scale up in tandem. More clients and more work translated into the need for more resources, and hence greater expenses and management needs.
Besides, with the current climate fuelled by information and digitalization, Family Billing found itself in a sudden wave of technology and powerful analytics. The market is hyped with all-new data-driven processes that require technologically proficient individuals constantly updating themselves with the latest advancements for the best outcomes.
Having to hire separate resources with such varied skills was proving to be costly for the medical billing company, though the need for a dedicated and expert medical billing team was vital. The medical billing and coding company also did not want to take the risk of hiring temporary consultants and exposing their financial details to a fleeting outsider.
Now, by associating with 24/7 Medical Billing Services' outsourcing solutions, the South Carolina based medical billing company is in for all-round financial services assistance sustainable in the longer term. This collaboration has answered many of the predominating challenges that the family billing company had been struggling with for long while being affordable and trustworthy at the same time.
How is 24/7 Medical Billing Services helping the billing company tackle the problems of scalability and resources?
"Spending hefty amounts in hiring and operational management was something we were not confident of, though the requirement of skilled resources and end-to-end revenue cycle management was only growing with our expanding clientele," shares an official spokesperson, from the billing company.
"We were looking for an option that guaranteed scalability without taking much time, affordability without compromising on expertise and absolute trust without having to risk exposing financial and patient details. That's when we found 24/7 Medical Billing Services and decided to take the stride."
24/7 Medical Billing Services has had a long history of helping small, medium, and large healthcare organizations gain access to the experience and expertise of a dedicated medical billing and revenue cycle management team. Our collaboration with Family Billing Solutions is on these very lines, as we offer them round-the-clock support for chiropractic, pathology, pharmacy billing and more.
1. Experienced Specialists:
24/7 Medical Billing Services is an array of revenue management specialists available on demand. The diverse team has specialists across niches and healthcare practices, besides generalists to take the cue of the entire spectrum and render end-to-end medical billing services for clients. This way, clients no longer have to invest discretely in external consultants while burning a hole in their pocket.
2. Affordability and Speed in One:
Working with 24/7 Medical Billing Services ensures the dual benefit of saving costs and time while refraining from making poor financial decisions that could harm the medical billing company's reputation in the short- and long term. Our clients get a chance at greater resources, flexible budget allocations, and an expert point of view. All this is possible at 24/7 Medical Billing services without any unnecessary expense where they take care of hiring, maintenance, operational, and replacement costs.
3. All-Round Cost Savings:
While hiring and replacement costs are associated with staff recruitments, operational costs in the form of bigger office space rents, equipment costs, marketing tools, phone and HR costs can be prevented by outsourcing these services to 24/7 Medical Billing Services. At the same time, family billing companies can save maintenance expenses on salary, health and retirement benefits, social security, Medicare, and unemployment taxes, besides workers' compensation if they choose not to hire in-team medical billers with the requisite skills and experience.
All this saved money can then be directed towards other facets of the billing company while leveraging the benefits of 24/7 Medical Billing Services' in-house tools and technology. Besides budget-related risks, the billing company can also prevent serious mistakes that could hamper their financial and operational health.
"The prospects look very promising indeed, with a solution in front of us for some of the major challenges we have been struggling with, thanks to 24/7 Medical Billing Services" – stated, an official representative from the billing company.
About 24/7 Medical Billing Services
24/7 Medical Billing Services is a medical billing company providing round the clock medical billing and coding services to physicians, hospitals, group practices, and medical institutions. Through quick and affordable services, this medical billing and coding company provides its clients the chance to earn more revenue and maintain their financial well-being. Their facilities are backed by 10+ years of experience, knowledge and implementation of latest technologies and reliable professionals. 24/7 Medical Billing Services partners with clients on the pillars of improved resources, affordability, creativity, and assured outcomes.
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