What is meant by fully loaded costs when comparing in-house transcription to outsourced medical transcription?
Fully loaded costs refer to total expenses, including both direct and indirect costs. • Salaries, benefits, taxes (federal, FICA, unemployment, etc.), and workers compensation insurance. • Ongoing training. • Management and administrative costs. • Human resources for recruiting and handling turnover. • Office space, utilities. • Equipment and software, including acquisition, upgrades, depreciation, and maintenance. • Technical support.
