Some doctors would assume outsourcing billing to a medical billing service makes the most sense. After all, they’re the experts with the resources to properly process your claims, right?
Others might want to maintain control of collections and do it all in-house.
Hold on. Don’t make a decision before thinking it through. Both methods of revenue cycle management have benefits and drawbacks. It’s up to the individual practice to weigh the pros and cons before deciding which approach is best.
Software Advice has broken down in-house billing and outsourced billing in terms of cost and qualitative factors. You’ll need to weigh the differences carefully when assessing the needs of your practice and decide if outsourcing makes sense.
Here are situations in which a provider may consider outsourcing their medical billing:
- Your billing process is inefficient;
- You have high staff turnover;
- You’re not tech savvy;
- You’re a new provider; or,
- You have different business priorities.