Third Party Payment System

Put yourself in the position of a medical practice manager of business operations.  You will need to make a recommendation to the medical practitioners who own the practice on the pros and cons of an in-house collections function vs. an outsourced third party collections (TPC) function.  The recommendation itself is not important; rather, I want you to focus on the pros and cons of running an in-house versus outsourced TPC operation.

The advantages and disadvantages of each method you cover in this paper are up to you, but here are just a few things you need to think about and consider (there could be more):
    Staffing
    Costs
    Software
    Tech support
    Experience required in this field
    Regulatory guidance
    Patient satisfaction

In this paper of about three (3) pages, layout the advantages and disadvantages of each choice.
Paper requirements:
Abstract — Not required in papers of this length.  Do not include one.
Introduction describe the purpose of the paper.
Main body discuss the pros and cons
Conclusion summarize the purpose of the paper and why it is important
Reference page use outside resources in addition to text.  References must be from an established, credible source and a minimum of two (2) are required.
Cover page and reference page are not included in the page count.  Papers should include page numbers and be double spaced.