In-house vs Outsourced Medical Billing Services. Which one is Better?
Physicians are generally fazed with the one question – should they outsource the medical billing and coding services or bring an in-house team for the same? While different people have different opinion about outsourcing services, in this post we are going to put forward a comparative analysis between outsourcing and having an in-house team so that you have a clear picture about which one is better and why.
So, let us have a look –
- Costs incurred on machines and software
One of the first things that make outsourcing of these services a great option is the fact that it is a cheaper option. When compared to the cost you will have to pay on getting the machines, software and more, the cost of outsourcing medical billing services comes to be quite low. You can avoid all the hassle and expenditure you might have to make on buying these machines by simply outsourcing the services.
- Staffing and salaries
Not just machines, you need to recruit man force to operate those machines as well. For which you will have to first of all spare some time to conduct the interviews. Plus, you will have to pay them on a monthly basis. Insurances, leaves and more, you will have to consider all that and build policies for the same. All in all, it can prove to be more than handful for a physician, and you might even end up losing focus from your practice.
- Collection and billing processes
A point worth mentioning here is that by outsourcing medical billing and coding services, you can eventually see a rise of up to 10-15% in the amount of money collected. Therefore, not only will you be saving some bucks but you will be making a good amount of extra money with the help of outsourced services from any of the medical billing companies in USA. So it’s a win-win situation for you!
While larger facilities, which have been in the industry for long and have a huge clientele, can afford to keep an in-house team of billing experts, for smaller facilities it is a good idea to outsource them. In fact, outsourcing can save from quite a lot hassle and money at the same time.
Still it is up to you to decide whether you must invest in outsourcing medical billing services or simply go ahead and recruit a team of professionals who will operate from your facility.