There are no upfront fees and we are not compensated until our clients are paid. No two client’s needs are alike; therefore our fee schedules are tailored to fit the individual needs of the client. Our fee schedule of choice is a percentage of collections however; we also have clients utilizing a per-claim fee schedule as well as hybrid fee schedules. For our hybrid fee schedules we align our incentives with yours and are paid a percentage of collection, you gain a true partnership so instead of paying for promises with a team of partners.
Here is an example of a percentage of collections agreement. Compare and save.
IN-HOUSE BILLING COST VERSUS ABSOLUTE BILLING COST
In-House Billing |
Monthly In-House Billing Cost |
Absolute Billing Cost |
Employee Salary (per employee) $15.00 per hour x 40 hours per week = $600 |
$2,600.00 |
$2,500.00 Average of $50,000.00 |
Medical Benefits Average PPO plan $165.00 |
$82.50 |
NONE |
Sick Leave Based on 1/2 day per month = 6 days per year |
$60.00 |
NONE |
Vacation Leave Based on a one week paid Vacation per year |
$50.00 |
NONE |
Retirement Plan Based on a 3% Employer Contribution per month |
$78.00 |
NONE |
Deferred Compensation / 401k Employer matched contribution |
Varies |
NONE |
Workers Compensation Based on $0.95 per $100.00 on payroll |
$24.70 |
NONE |
Payroll Taxes (estimated) Social Security, Medicare, State Unemployment |
$200.00 |
NONE |
Practice Management Software (Estimated) |
$150.00 |
NONE |
Electronic Claims Submission Fee @ $0.25 per claim |
$35.00 |
NONE |
Paper Claim Forms, Patient Statements Forms Outgoing Envelopes, Return Envelopes
|
$25.00 |
NONE |
TOTAL COST PER MONTH
|
$3,305.20
|
$2,500.00
|
|
ESTIMATED IN-HOUSE COST |
ESTIMATED ABSOLUTE COST |
ADDITIONAL COSTS FOR IN-HOUSE BILLING
Office Space Lease – Office Equipment (Computer System, Phone, Fax, Scanner, Copier, Filing System) – Billing Software & IT Support – Coding Books – Updates – Training – Storage Space – Electricity – Phone Charges – Copy Charges – Office Supplies – Printer & Copier Ink -