Ask yourself these questions:
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- What are the days in accounts receivable?
- What percentage of accounts receivable is over 90 days?
- Has a coding audit been performed for the providers?
- Has the encounter form been reviewed lately?
- Has the fee structure been analyzed?
- Are you charging for all the services rendered?
- How often are claims processed?
- Who performs the follow-up on denied claims?
- Are secondary/tertiary claims processed?
- Are the providers credentialed with all the payors?
- Do you know about PECOS?
- Are you aware of the EMR incentive?
- Is anyone helping you with ‘Meaningful Use’?
- Are there sufficient internal controls to prevent embezzlement?
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If you cannot answer these and other questions
about your practice,
we can help you identify and resolve issues!
Call us at (716) 651-0911 | |
 |
In-house Billing vs. Outsourcing
The table below compares the cost of
one full-time, in-house billing staff to that of outsourcing.
|
|
|
| DESCRIPTION |
EXPENSES |
| Wages @ $12/hour for 2080 hours |
24,960 |
| Payroll Taxes |
2,858 |
| Medical Insurance |
3,000 |
| Life, Disability, etc. |
645 |
| Payroll Fees |
240 |
| Postage (Statements & Claims) |
3,000 |
| Technology Costs |
1,500 |
| Rent and Utilities |
1,500 |
| Training |
500 |
| Staff Turnover |
2000 |
| Supervision @ $20/hr for 5 hrs/Month |
3000 |
| Office Supplies |
500 |
| Total In-House Billing Expenses |
43,703.00 |
| Cost as % of Revenues |
7.3% |
|
|
Outsourcing Fees
(Depending on services and specialty) |
4 - 6.5% |
These in-house costs do not account for lack of internal controls,
expertise, motivation to maximize revenue, etc.
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|
