When was the last time you posted online looking for DME billing coordinators for your business? A few months ago? A few weeks ago? Online job posting sites like Indeed, LinkedIn, or ZipRecruiter can sometimes be helpful, but is your HR team (or you) spending hours screening applications? If so, it’s time to ask, “how much are you investing in finding one good employee?” If your answer is “too much,” it’s time to consider other options.
DME billing outsourcing gives you access to a team of billing professionals without the extra effort of hiring and training your staff. And with the right DME billing company, their billing team feels like an extension of your billing department.
So, how do you determine if outsourcing or hiring in-house is right for you? This article will review the time and cost of investment for DME billing job postings compared to outsourcing to help you find the right solution.
Online DME Billing Job Postings: Time and Cost Investment
As you review the information below, you’ll see an initial resource commitment of time and money to find a new employee. Then once you onboard them, those commitments continue.
- Posting on various job search sites
- Time to upload information to several websites
- Pay for ad postings
- Screening potential of hundreds of applications, with the possibility of no qualified individuals
- Time to review resumes, contact applicants
- Pay your HR team to conduct interviews
- Onboarding a new employee
- Time commitment to train and onboard individuals
- Cost investment for HR to onboard the new employee
- Paying their salary with benefits (including vacation and sick days)
- Ongoing training for employees to ensure they stay current on industry rules and regulations
- Time away from billing claims to stay current on industry guidelines
While there’s a significant investment in hiring one employee, there are pros and cons to maintaining an in-house billing team.
- The feeling of being in complete control over financial processes
- Implement billing changes immediately
- Using the resources you already own
- Continue working with the team you have
- Making sure you maintain a well-staffed team to avoid mistakes
- Maintaining accurate price tables
- Out-of-date tables will skew reporting and imply there’s more revenue than reality
- Creating and keeping up with proper billing procedures
- If employees are missing or skipping steps, it can lead to an increase in denied claims
DME Billing Outsourcing: Time and Cost Investment
As you review the time and cost of outsourcing, you’ll see an initial upfront investment. Then as you continue, your time is needed less, allowing you to focus on other business areas.
- Research and interview DME billing companies
- Time commitment to navigate the qualified from the masses
- Potential higher cost to hire a company that has a US-based staff
- After hiring, bringing them into your business
- Time to meet and review your current billing department and needs
- Time to have 2+ meetings to go over your current billing department
- Cost away from you working on your other tasks
- Relying on them to stay up to date on all industry rules and regulations
- Reviewing their monthly reports to ensure they meet your goals
- Gain access to a team of billing experts
- Feel more confident that your monthly reports reflect accurate data
- Discover potential gaps or mistakes in your billing process
- Gain a fresh perspective inside your billing department
- Increased productivity for yourself and your team
- Feel as if you have less control over claims
- The initial time and cost investment to outsource
- Letting go of your billing team *Some companies will work with your current team.*
Overall, whether you have an in-house team or you choose to outsource, there’s a significant investment. You’ll need to review the pros and cons of each to make a confident decision about what will work best for your business.
Read this article to learn more about the average cost to outsource DME billing, which compares in-house to outsourced teams.
3 Reasons to Contact Medbill Now
- Find your billing areas with the greatest needs with our Benchmark & ROI Review
- Hear how our innovative methods can help to lower denials and streamline your revenue cycle
- Learn how we can work with your current staff (if that’s your goal)
Contact us using our online form or call 866-575-0432.