Guest post by Saqib Ayaz, co-founder, Workflow Optimization.
A question that many businesses dither about is whether outsourcing their billing will be profitable to them or not. Third-party services can help make billing smoother as compared to the in-house process that involves using billing software. While some practices think outsourcing to be the right decision because that allows them to make use of the experts, their resources, and the timely manner in which the job is finished. However, others think doing it all in-house will help them maintain control over their practice. Caught in the same conundrum? Don’t worry! We can help! Here are a few reasons why outsourcing is a good idea:
In-house billing is costly
If you have been thinking that outsourcing is expensive then just try adding the expenses of in-house billing and you are in for a surprise. The expenses will include:
- What you will be paying the billers
- How much employee benefits will cost you
- How much the technology systems will cost you
Outsourced billing is less expensive
Outsourcing seems like a good idea for startups, especially small ones, and transitioning businesses dealing with an employee who has resigned.
In-house billing comes with liabilities
A billing department is chock full of liabilities. Here are two of the sources from which said liabilities may originate:
- Employee neglect
Thus, they require constant and strict supervision from the manager all the time.