Deciding to handle your billing in-house or to hire an outside
billing company is an important decision with significant
implications for your practice's long-term financial health. It
is a good idea to look at all of the pros and cons to ensure your
decision is the right one.
Compare the Costs
Typically, a billing company demands a 6%-9% commission on all
money they handle. In other words, if your practice earns $1
million in business annually, the billing company would take
$60,000-$90,000 of that amount. Bringing billing in-house can
reduce these costs to around 3% of your take, or $30,000 out of $1
million in business. So, this might seem like a straightforward
decision that saves $30,000-$60,000 annually, but keeping billing
in-house is not that simple. One hard truth is that unless someone
on your management team has a fundamental understanding of coding,
billing and collecting, it would be better to outsource. The
additional cost can be balanced out by the
