Are you a mental health practitioner who has recently started your own private practice? If so, you may have found yourself taking on the responsibility of billing and claims submission in addition to your core clinical work.
Initially, it might seem manageable to handle these tasks on your own, especially if your Electronic Health Record (EHR) system is connected to a clearinghouse. Perhaps you even have an electronic remittance advice (ERA) system that keeps your accounting and bookkeeping in order by communicating with your clearinghouse platform.
However, as your practice grows, you’ll likely find this work becoming increasingly time-consuming. The good news is that if you have established a systematic approach and Standard Operating Procedure (SOP), you have the opportunity to delegate these tasks to someone else and shift your focus back to your main priority of treating patients.
Delegating the revenue cycle to a virtual assistant can bring valuable advantages to your mental health practice. In this article, we’ll explore six reasons why you should consider delegating your claims and billing tasks to a virtual assistant.
By outsourcing your billing processes, you free up valuable time that can be better utilized for patient care and expanding your practice. With a dedicated virtual assistant handling all the administrative tasks, you can focus on helping your clients.
Having one person dedicated to managing your revenue cycle greatly enhances the efficiency rates of your practice. Your virtual assistant can develop a deep understanding of your billing system, troubleshoot issues, and ensure a smooth workflow, leading to fewer errors and faster reimbursement.
Dealing with insurance companies can be a time-consuming and frustrating process. However, with a virtual assistant at your side, you have someone who can wait on hold for long periods of time, speak to insurance representatives, and handle the necessary follow-up.
Outsourcing your billing to a virtual assistant is a cost-effective solution compared to hiring a billing company that takes a percentage of your revenue. By working with a virtual assistant, you retain control over your business finances and can allocate resources more efficiently.
Maintain Control and Knowledge
As an entrepreneur, it’s crucial to have a comprehensive understanding of how every aspect of your business operates. By learning the billing process yourself and then training your virtual assistant, you retain control over your revenue cycle. If someone were to leave, you can seamlessly replace them while still knowing how to guide and train their replacement.
Establish a Reporting System
Building a system that includes weekly reports from your virtual assistant helps keep you informed about their progress and completed tasks. These reports can provide insights into the efficiency and effectiveness of your revenue cycle, allowing you to make informed decisions and identify areas for improvement.
In conclusion, delegating the revenue cycle of your mental health private practice to a virtual assistant can have numerous benefits. As your practice continues to grow, it’s important to prioritize your core clinical work and let your assistant handle the administrative side, ensuring your practice thrives.