As a medical professional, it is always at the top of your list to provide excellent patient care. The administrative side of your practice often takes a lot of your time and resources. One important aspect of medical office management is to have a reliable answering service that can manage patient calls, appointment scheduling, and urgent inquiries. When choosing an answering service for your practice, you may be faced with an important decision: flat answering service vs. hourly billing.
As we discuss below, you want to know why in particular flat answering service may be a better solution compared to hourly billing services to your medical practice-from more predictable costs to scalability and others, long-term benefits that are all aimed at streamlining processes that improve your bottom line.
Understanding Flat-Rate Answering Services
One benefit of the flat rate is that it is a reliable way of pricing. You are very much aware of what you’re paying each month, without concern over whether you make a lot of calls or spend hours on the phone. For businesses with unpredictable call volume, and businesses that are expecting growth, the flat rate means you will never receive unexpected charges or bills.
The Difficulties of Hourly Pricing
In contrast, hourly billing for answering services charges your practice based on how many hours you spend on calls. You only pay for your use in this pricing model, which some describe as more flexible than that. However, the moment it gets out of control and becomes expensive is very unpredictable.
It is also okay in practices that have very few incoming calls or require an answering service only during an occasional time. For most medical offices that receive more calls or that inquire after hours, though, hourly billing will incur quite substantial costs that are challenging to predict. A particularly hectic week with more calls than usual might skyrocket the cost of your month-end expenses, which could easily prove unmanageable.
Cost Effectiveness Over Time
Flat-rate answering services are the most cost-effective solutions in the long run. In a flat-rate service, your medical practice can budget on a regular monthly charge without any variance with respect to call volume. For example, whether you received 100 calls or 1,000 calls, you are charged the same amount, thus it is easier and more predictable in terms of budgeting.
On the other hand, hourly billing can be very charged up, especially during peak times. If your practice is growing, or if you receive a lot of inquiries from patients, your hourly bill is going to increase dramatically. So, although hourly billing sounds like a good deal when you first start, you will end up paying more in the long run due to periods of high call volume.
Flat-rate answering services offer a higher degree of financial stability. You won’t need to worry about fluctuating charges each month, and you can predict your expenses with more accuracy. This predictability helps when planning for other areas of your practice, such as staffing or equipment upgrades, without being blindsided by variable costs from your answering service.
Operational Efficiency
The operations of your medical practice require excellent patient care, but you also need to efficiently manage your resources. A flat-rate answering service will make it easier for you to allocate your budget and your staffing needs because the billing is consistent and predictable. You know how much you will pay each month ahead of time, so you can streamline your operations and allocate your resources to areas that need attention.
However, in hourly billing, unpredictability may even lead to inefficiencies as when there suddenly are huge volumes of calls in your practice. Your answering service may fail to keep up with such call volumes, resulting in missed calls, unsatisfied patients, and an inefficiency in operations. Furthermore, the time calculation will be kept track of in administering your end which might take away from precious time that you could have utilized to enhance patient care.
Flat rate services guarantee you can actually depend on reliable call handling every month to ensure that you have no holes in coverage – all patient inquiries are addressed promptly, thus enhancing operational efficiency.
Which Is Better for Your Medical Practice?
When choosing between flat-rate and hourly billing for answering services, consider your practice’s size, call volume, and growth projections. Flat-rate answering services are ideal for most medical practices, particularly those with high or fluctuating call volumes. They provide the consistency, cost predictability, and scalability needed to manage a growing medical office.
Hourly billing works all right for really small practices with minute call volumes, but it’s almost always a bad option after that. Most medical professionals will find they have a far more robust and cost-effective solution available to them through flat rate answering services.
Final Considerations
Flat-rate answering services provide clear advantages over hourly billing for most medical practices. They ensure predictable costs, scalability, and operational efficiency, which makes them the ideal solution for growing practices. You can concentrate on providing great care while leaving the handling of the calls to professionals at a price you can rely on.
