The interest in neural networks has increased sig- nificantly, and the application of this type of machine learning is vast, ranging from natural image classification to medical image segmentation. However, many users of neural networks tend to use them as a black box tool. They do not access all of the possible variations, nor take into account the respective classification accuracies and costs. In our work, we focus on multiclass image classification, and in this research, we shed light on the trade-offs between systems using a single multiclass classification and multiple binary classifiers, respectively. We have tested the these classifiers on several modern neural network architectures, including DenseNet, Inception v3, Inception ResNet v2, Xception, NASNet and MobileNet. We have compared several aspects of the performance of these architectures during training and testing using both classification styles. We have compared classification speed and several classification accuracy metrics. Here, we present the results from experiments on a total of 99 networks: 11 multiclass and 88 individual binary networks, for an 8-class classification of medical images. In short, using multiple binary classification networks resulted in a 7% increase in the average F1 score, a 1% increase in average accuracy, a 1% increase in precision, and a 4% increase in average recall. However, on average, such a multi-network style performed the classification 7.6 times slower compared to a single network multiclass implementation. These collective findings show that both approaches can be applied to modern neural network structures. Several binary networks will often give increased classification accuracy, but at the cost of classification speed and resource consumption.