It’s not a secret that Medical Business Office, Inc. (MBO) is a professional, established and reputable Medical Billing Service offering end-to-end Revenue Cycle Management services for Physician Practices and Independent Diagnostic Testing Facilities (IDTF’s), and as such, we want your business……. Or do we?

MBO has been in business since 1985.  Our reputation is that our clients are with us long-term.  Having been in business as long as we have, we’ve seen a lot of changes both in the Medical industry (think regulations) and in the Medical Billing industry (think regulations).

It is the belief of MBO that when entering into a relationship with any practice or facility, that the relationship be healthy.  A very smart lady once told me the relationship is kind of like a marriage.  There must be trust, communication and continuous learning in order to have a successful relationship.  Trust is not automatic, it is earned.  Like the Medical Practice, the Billing Service has compliance and regulations that must be followed completely.

When a practice considers whether to keep an in-house billing department or outsource to a specialized Medical Billing Service, there are several factors to consider.  If the practice only considers immediate costs, then you’re not really comparing costs.  Let’s talk about costs first.  It’s not uncommon to come to the conclusion that your own billing department costs less when compared to outsourcing to a Medical Billing Service, resulting in clouded and inaccurate comparisons. Often times practices fail to consider the costs associated with the billing system, maintenance for the billing system, upgrade costs, office space, utilities provided for that space, healthcare benefits for employees, retirement plans, paid vacations, paid holidays, human resources for hiring, terminating, training and educating.  And speaking of educating, what about the costs to send employees to seminars and conferences? Not only are you paying the employee to attend, but you bear the full cost of the educational event, plus mileage, hotel costs and food (at a bare minimum), and what’s going on with your billing while that person(s) is out?  Do you budget for the CEU’s your certified coders are required to have?  Do you bear the costs to get a current employee certified with AAPC?  What happens if they take the test, pass and then 6 months later they go to another practice?  What happens if they take the test and fail? Are you just out your investment? And what about those vacations?  Employees take vacations, they have big events that take them from the office and what happens to your billing in their absence?  Does your billing sit there awaiting their return, or does your billing get shuffled to someone else less familiar with correct billing, making you vulnerable to inaccurate and non-compliant billing commonly resulting in delayed (or worse, lost) revenue?  At this point, you are now paying double because you are paying someone their benefit time to be off, plus you’re paying someone to temporarily handle your billing in their absence.  There are also administrative costs associated with billing (think credentialing, managed care contracting and negotiations, CAQH update and maintenance, CMS re-validation etc) that are typically overlooked when trying to come up with the true costs of having your own billing department.

How is a Medical Billing Service any different from your own billing department?  While I won’t speak for other Medical Billing Services, I will speak for MBO.  It is our long-term routine practice to cross train each employee and have them regularly perform other duties so as to prepare for unscheduled absences.  If your dedicated account representative is out of the office, there is a back up (at least 1, but usually more) that knows your account and all the variances to ensure billing stays on track and in compliance.  You no longer pay “double”, once for the employee’s benefit time to be off work and then again for the employee trying to perform the tasks at hand.  All costs associated with education, continuing education and new certifications are already factored in to all billing rates over time. For example, if you have to pay $1,000 for someone in your billing department to get their CEU’s, you won’t see that cost from MBO.  These costs are factored in and are deducted from our profit margins. Your office will always have an assigned person that they can refer to for all matters. No more dealing with human resources, no more lost productivity in an absence, no more taking patient phone calls about their billing, no more sending out statements or filing insurance claims, no more delays in follow-up for delayed claims, no more appeals for denied claims, and because MBO utilizes the most current high tech and state of the art equipment and processes, you will also benefit from our guaranteed 98% first-pass claims, which gets you paid faster.  MBO has long-term employees, most have been with us over 15 years.  Neither you, your staff or your patients will ever deal with a language barrier or off-shore response, we are right here in the United States located in Jefferson City Missouri and we welcome your visit to see what we’re about.  In the beginning of this blog, I referred to us as a professional Medical Billing Service providing end-to-end Revenue Cycle Management Services.  What exactly does that mean? Think credentialing. Think CAQH.  Think managed-care negotiations. Think re-validation. Think accounts payables. Think specialty reporting. Think month-end reports. Think I.T. and programming.  These are labor intensive tasks that most billing departments don’t handle.  Quite frankly, it’s the same at MBO.  We have individuals dedicated to administrative tasks but are not part of the actual billing processes.  Simply put, MBO is YOUR professional Medical Billing Service dedicated to YOUR practice and YOUR success, after all, if YOU succeed, MBO succeeds.  It’s a win-win arrangement.  MBO would love to be part of your winning team.  Call us at 573.634.7155 and let’s discuss in further detail how MBO can meet the specific needs of your practice.