According to a 2006 MGMA survey, operating costs for multi-specialty groups soared 7.4 percent; revenue grew just 1.8 percent. The time has come to work more cost-efficiently, and a good place to start is with recruiting and training.
With a full-time employee, your employee costs are fixed, while your billing and receivables are not. Here’s an example: your current medical billing specialist is becoming overwhelmed, and claims are beginning to fall through the cracks. You need to hire a second specialist, but you really don’t have the billing volume to justify his or her salary and benefits. It’s a lose-lose situation.
When you choose to outsource with MedIT, your costs vary right along with your medical billings. If your medical billings drop, so do your costs; if your medical billings go up, your costs will not rise disproportionately.
Compare the advantages of recruitment and training versus outsourcing with MedIT:
| Expensive and difficult to recruit quality staff |
MedIT offers experienced billing specialists |
| Average salary and benefits of $36,355 or higher per billing specialist* |
Fixed salaries are eliminated |
| Hours of time lost on interviewing and personnel checks |
Hours of time to spend on growing your practice |
| Ongoing training and retraining of staff to address new Medicare and insurance rules |
A dedicated team that is always up-to-date on new rules and regulations |
| Employee turnover that leads to loss of quality service |
No need to worry about turnover -- consistent accurate billing |
MedIT provides you with a dedicated and scalable personnel infrastructure in addition to an experienced staff, free training to existing customers, and ongoing telephone and email support.
To find out more about risks associated with staff turnover, click here.
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