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Outsourced Billing: Reasons Cardiologists Make the Move

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The last few years have been difficult for cardiologists. Medicare reimbursement cuts to key diagnostic services like echocardiograms, a fast-changing healthcare landscape, and rising costs have pushed many cardiologists out of small practice settings - only 35% work in private practice today versus 59% in 2007.?

Adding to the strain are mounting administrative tasks and outdated technologies, which are consuming too much time regardless of practice setting.
Given the circumstances, cardiologists need to find new solutions fast. Aside from clinical services, billing and revenue cycle management (RCM) are the most important processes in your practice - and also the most overwhelming. In many cases, outsourcing your back-office billing tasks means higher collections, improved efficiency from fewer administrative hassles, and greater adaptability to industry changes like ICD-10.

In this report, we'll elaborate on three key reasons cardiologists are outsourcing their revenue cycle management (RCM) and provide a short self-assessment to help you decide if it may be the right move for you.