Sleep institutes perform sleep diagnostic tests. Their services and diagnostic tests help physicians identify underlying health conditions in their patients. However, despite being a profitable healthcare business, most sleep centers are reporting revenue losses. This is mainly due to their inefficient sleep study billing operations.
Cardiovascular and neurological disorders are on the rise. As a result, sleep research institutes have gained significant importance in the healthcare system. But inefficient billing operations & regulatory burdens are forcing a number of sleep centers to close shop.
Therefore, to help sleep institutes get back on the path to profitability, we will discuss why sleep centers are partnering with sleep study billing services and how you too can benefit by doing so.
Let’s start.
Why Sleep Study Billing Services are Popular Among Providers
Diagnostic procedures performed by sleep centers are subject to regulatory burdens. Most common problems include prior authorization, claim denials, and the appeals process. Besides these, sleep centers also struggle with medical billing & coding errors.
These problems increase billing errors and costs. Let’s discuss why more and more providers are partnering with sleep study billing services:
1. Certified and experienced professionals:
Sleep center billing services provide certified and trained medical billers, coders, and AR professionals. This allows the sleep center to easily access services of certified healthcare professionals without having to hire and train them in-house.
2. Lower operational and payroll costs:
Most sleep center billing companies offer multiple payment models. These flexible pricing plans are cost-effective, with some even offering fixed hourly rates for the FTEs they are assigned.
3. Improved billing accuracy and reimbursement:
The increased sleep test billing efficiency helps healthcare providers to reduce costs and get more bills completed quickly even when they are experiencing high patient volumes.
4. More free time to focus on core clinical functions:
Healthcare providers are expert at delivering medical care, whereas professional medical billing companies excel in non-clinical admin functions. By delegating admin tasks to experts, providers can increase their billing efficiency and free-up more time to focus on patient care.
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How Outsourcing Your Sleep Study Billing Beneficial?
Learn more about effective sleep study billing solutions! Outsource today for increased practice efficiency and decreased overhead costs.
How Can You Benefit from Partnering with Sleep Study Billing Services
There are numerous benefits of partnering with sleep study billing services. These benefits vary based on the offerings of the service provider. For reference, here are some benefits sleep centers can experience by hiring Sunknowledge’s experts:
- 30-day-free trial
- Free team leaders & account managers
- Complete HIPAA-compliance with added PHI security
- Minimum 10% complimentary buffer
- Real-time services across all time zones
- Services at $7/hr with no hidden costs
To learn more about our best practices in sleep study billing services please contact Sunknowledge Services Inc., a HIPAA-compliant revenue cycle management organization, serving US healthcare providers and payers since 2007.