Is Your In-House Medical Billing Actually Costing You Money? The Hidden Expense Calculator
You’re a healthcare provider, not an accountant. Yet, if your practice is like many others, you and your staff spend an inordinate amount of time on the complex, frustrating world of medical billing and coding . The common assumption is that handling billing in-house saves money. But what if the opposite is true? What if your current system is a silent profit-killer, draining resources you could be investing in patient care and practice growth? Let’s break down the real costs of in-house medical billing. The Visible Costs: What You See on Paper First, the obvious expenses. These are the line items on your budget: Staff Salaries & Benefits: The compensation for your billers, coders, and administrative staff. Software & Technology Fees: Monthly or annual subscriptions for your Practice Management (PM) and Electronic Health Record (EHR) systems. Training & Certification Costs: Keeping your team updated on th...