If a physician isn’t comfortable outsourcing medical billing services to a medical billing company, there is always the option of handling billing issues within the organization using some form of medical billing software. Proper medical billing software can be used to keep costs down if for whatever reason retaining the services of a third party that specializes in medical billing isn’t feasible. If a physician is confident that they are capable of handling processing claims in house, quality medical billing software might be a sound investment, and may end up being much more cost effective in the long term.
When considering the costs of medical billing software, however, it’s important to consider them all. In addition to the software itself, a physician seeking to handle billing within the organization will most likely also need to hire one or more employees specialized in medical billing. There is also the possibility that new medical billing software will require additional hardware added to the computer system capable of running it, but this is not always necessarily the case. There are also various miscellaneous costs associated with handling medical billing yourself, such as an increased need for office space and the cost of statement paper. Obviously, the pros and cons for employing some form of medical billing software versus outsourcing medical billing services will vary from organization to organization, but the potential to save money by handling billing in house is certainly there.