Benefits of Using CPS, Inc.

It is imperative to think with a long-term strategy in mind when considering outsourcing. The majority of physicians interviewed and asked why they have chosen to outsource their billing functions are due to the challenge in managing the human resource cycle and the consistent problem of employee turnover.

• Increase revenue by reducing office expenses such as, personnel, sick pay, vacation pay, benefits, statement paper, envelopes, postage, etc
• Improved staff productivity. Your staff will be freed up to concentrate on patients
• Eliminate patient billing questions
• 100% HIPAA Compliant
• Quick turn around. We don’t get paid until you do! CPS, Inc. will work twice as hard to get you reimbursed.
• Notification of CPT, ICD-9 and modifier changes
• Updates for insurance guidelines
• Your satisfaction

Employee Turnover

Ask yourself the following questions:

• When would you be most concerned; when your receptionist resigns or when your medical biller quits?
• What processes do you have in place to quickly and effectively hire a replacement?
• How much of your time are you going to have to devote to training a new employee potentially with little or no billing experience?

As you can see there are many challenges associated with high turnover periods. CPS can help alleviate the strain and worry by taking care of all of your billing needs consistently and accurately throughout the year.

Organic Growth

Growth is a normal part of any business. As a practice grows, revenues grow and ultimately, the workload grows. It becomes important to hire new people to meet the new workload demands. If a Physician has kept his/her billing in-house and, when it comes time to hire another biller, the Physician is increasing his/her fixed cost substantially, and all at one time. Not only is finding the right person for the job difficult, but hiring an extra person can be a heavy cost-burden.

With a billing service, the human resource management problems are eliminated on the part of the Physician. CPS, Inc. is able to manage our turnover because we cross train employees within our organization.When we work with a client, we work as a group; i.e. we do not give one employee all of one client’s billing. In this way, we can easily manage the normal turnover that occurs in companies and medical practices today. In addition, as you grow your practice, your cost/revenue percent remains the same without any large increases.

Why Outsource

Instead of outsourcing, many practitioners have on staff one or even two employees assigned to do the medical billing. Many feel that by having multiple staff devoted towards billing provides accurate and sufficient billing. Many practitioners feel that by keeping billing services in house they keep control, increasing collection time and reducing costs. This however, is not always the case.

Control

By outsourcing your billing services you have the peace of mind that your billing will be taken care of and eliminate the worry of employee turnover and the dependency on employees that can leave on any given day. Knowing that your billing is taken care of by a reliable, dependable source allows you greater control over your business.

Speed

There is a misconception that by outsourcing, the billing process will be slowed down thereby creating a cash flow problem. CPS, Inc. submits claims within 24-48 hours of receiving data from the practitioner. By outsourcing your billing to CPS, Inc., the gross billings will likely increase and accounts receivable time will be shortened. This is because the billing service is paid on an incentive basis.

Efficiency

Often times medical billing services are more familiar with coding than a practitioner’s own billing department. CPS is fully trained and participates in continuing education of the latest trends in coding techniques. CPS also has the most sophisticated hardware and software and is always investing in the latest technology to handle the volume of transactions efficiently and quickly. When practitioners keep billing in house, they also take on the costs associated with the keeping in house staff and computers consistently updated on industry changes and incurring additional expenses.

Cost

When compared to payroll costs, the billing service charge is much more cost effective than in-house billing.