This article outlines why anesthesiologists may consider partnering with a service to outsource their billing function and also discusses what is needed from such a partnership. It will review the billing process as well as list the metrics traditionally used to monitor the performance of the billing function. The term “billing” is expanding and might be better represented by the phrase “revenue cycle” due to an expansion into other operational areas of the practice. Finally, the article will describe how anesthesiologists can evaluate potential partners.
Effectively billing for anesthesia services is vital. Revenue from patient services provides the income to pay expenses. Lacking a billing function that accurately and quickly results in payment may result in a cash flow shortfall that could impact financial viability. Calculating the gross charge for anesthesiology services itself is complicated and unique from other medical specialties, requiring knowledge of current rules and regulations, along with...
