Here are considerations for private practice physicians to take into account when deciding between in-house and outsource billing, according to Nitin Chhoda.
1. Style and skill of the practice. In-house billing requires a staff that has expertise in analyzing financial reports; otherwise it makes sense to engage a third party to oversee the billing process.
2. Cost considerations. In-house billing costs include labor, technology, training and ongoing expenses to maintain a billing system. Outsourced billing costs vary by specialty and ranges of services provided, but are generally based on percentage of collection.
3. Staff quality. A high-performance billing staff is necessary to support in-house billing. If private practice physicians cannot find this in their local community, it makes sense to turn to an outsourced billing model.
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1. Style and skill of the practice. In-house billing requires a staff that has expertise in analyzing financial reports; otherwise it makes sense to engage a third party to oversee the billing process.
2. Cost considerations. In-house billing costs include labor, technology, training and ongoing expenses to maintain a billing system. Outsourced billing costs vary by specialty and ranges of services provided, but are generally based on percentage of collection.
3. Staff quality. A high-performance billing staff is necessary to support in-house billing. If private practice physicians cannot find this in their local community, it makes sense to turn to an outsourced billing model.
More Articles on Coding and Billing:
Around 1.46M Medicare, CHIP Eligible in October
Collect Up Front From Patients Without Referrals
Would ICD-10 Delay Actually Increase Readiness?