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Should You Outsource Your Medical Billing

One of the many business questions physicians faces is whether to outsource their medical billing to third party medical billing services or do it in house with medical billing software. Some physicians want to outsource billing to a medical billing service. Others might want to maintain control of collections and do it all in-house. 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. We’ve seen many examples of when a physician group needs to outsource and when they do not. A cost analysis is one of the best things to perform when looking at taking action to outsource your medical billing. While cost is a major factor is not the only one. 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.