The traditional model of private practice has been physicians providing excellent medical care while leaving the business details to their administrative staff.
The modern healthcare system is more complex. Physicians must not only demonstrate their value to patients but also to managed care organizations, hospitals, and other healthcare consumers. Health Insurance companies have created a system so confusing that the average physician has to increasingly devote time, effort, and resources merely to sustain their practices. Presently the challenge for physicians is to provide inexpensive, high-quality care while simultaneously maintaining a profitable business.
The primary and most easily preventable reason for delayed and diminished cash flow in a medical practice is improper medical billing. Physicians can expect to lose up to 15-20% of their annual revenue if proper attention is not given to their accounts. The complications of medical billing now require a specialist. With reduced reimbursement rates from insurance companies and ever-changing policies, it is now more important than ever that claims be processed accurately the first time.