The choice to conduct your medical billing in-house, or to outsource your medical billing to a medical billing company, is one of the most important decisions you’ll make for your growing healthcare practice. There is no right or wrong answer to the in-house vs. outsourcing battle, since there are pros and cons to each approach to medical billing. What matters most is what’s right for your individual practice.
In-house medical billing has many advantages. Doctors retain control of the medical billing process because they remain in close proximity to medical billers. Trained in-house medical billers also guarantee a strong ROI. Instead of spending money on outsourcing, doctors can tweak processes in –house and maximize their investment in medical billing training. However, outsourcing can have its advantages too.
Generally speaking, outsourcing is more cost-effective than training and maintaining staff in-house. Outsourcing allows you to be more hands off, removing the need to micromanage employees, deal with billing issues, and constantly put out fires. Outsourcing also removes the headache of dealing with staffing issues. If an in-house billing employee quits, your investment in their training is lost and you’ll have to spend time and money training a new employee. Outsourced medical billing companies cross-train their employees so your medical billing needs are always covered, no matter what.
Only you can decide which style of medical billing is right for you. Switching can be expensive, so it’s best to make an informed decision when you first open your practice.
To learn more about practice setup, finance, billing, insurance, coding, outsourcing…everything healthcare practitioners need to succeed join DoctorsBusinessNetwork.com or Doctors Business Channel on YouTube!
