Have You Considered The Cost

Luke 14:28 (MSG) “Is there anyone here who, planning to build a new house, doesn’t first sit down and and figure the cost so you’ll know if you can complete it.” Many times in our lives whether it be building something or starting a new venture of some kind, we are aware that there are costs associated with this new project or venture. If we are wise, we will consider these costs before embarking on this new adventure. What costs should we consider? I believe there are four costs that we must consider before starting a new adventure. First and foremost, the monetary cost has to be considered. Can I afford to start this new project or venture? Money has definite limiting factors in our decision. It is never an issue if we have more than enough funds to complete the project. When we are not sure of the monetary resources we have, then things get a little more complicated. We always want to ensure that we have the financial resources to complete the project or venture or it may never be completed. Second, I think we need to consider whether we have the resources needed to complete the project or venture. Many times we have the money, but lack the tools or materials to complete the project or venture. A good rule of thumb is to add 10% to all estimates for materials. We do make mistakes (believe me I have made my share) and may need to use more materials than we anticipated. Third, we should consider the time needed to complete the project or venture. Time is a valuable asset and we need to ensure we can complete the project in a timely manner. We should assess whether we have the time to complete the project before beginning or the project may take excessively more time than we wanted. Finally, we should consider our abilities. Do we have the knowledge and expertise to complete the project. I know I think I can do things but when it comes right down to it…I don’t know what I am doing. YouTube is a great tool but it can at times be very hard to determine the correct way to complete certain projects. If you are not sure, always consult a professional. It will cost you more money but in the long run the mistakes that we make can cost us just as much. As I review these items that I have mentioned, it makes me realize that many in private practice in the medical field have to consider all of these things when it comes to their medical billing. I would suggest that you consider all 4 things before you hire someone to work in your office, performing a task that is vital to the success of your practice. You should consider the cost. Our services are based on how much money you receive. An inhouse biller cost you a set amount each month including benefits and payroll tax costs. You should also consider the resources. Do you have the computer, computer accessories, internet, program to perform billing? Outsourcing your billing alleviates the need for expensive computers, programs, and accessories to perform billing. Time should also be considered. I have worked in a doctors office and time is not a luxury. With patients coming in and out, employees out for various reasons, phones ringing, and other tasks, it is hard for an inhouse biller to focus just on billing. Outsourced billing companies are focused on just one thing, performing the billing for your practice. Finally, abilities should be considered. When you hire an inhouse biller, you have to ensure they have the ability to perform the billing task. Are they trained in the current billing procedures? You will need to ensure that they receive the latest training in billing and utilizing the program for billing. Turnover is a huge issue in the medical field. When one biller leaves, you are tasked with finding a new biller. Ensuring they are trained in your program and billing procedures. Outsourced billing is a constant. It brings you peace of mind because you are not worried about the billing process. You know it is getting completed. Consider the cost when you are faced with the decision regarding your medical billing. Consider Mediclaim Services…we will give you peace of mind….one claim at a time.