Practice medicine. Not bookkeeping.

 

About Us:

Owners

Services

Our Name

Mission Statement

Collection Rate:

Collection Rate

Prognosis:

Time Spent on Billing

Billing Flow Charts

Cost Comparison

Doctor Evaluation

Join Totus Tuus:

Practice Evaluation

Physician Survey

Survey:

Employment:

Testimonials:

Contact Us:

 

Answer: c) savings

   

Cost Comparison

*Average costs and collection percentage are based on a primary care physician 

Assumptions / Notes:

1.      Billing specialist salary of $10.50/hr.  Additional expenses not included in the “In House Billing” option:

a.      Workers’ Compensation Insurance for billing specialist.

b.      Medical insurance and any additional fringe benefits for billing specialist.

2.      Employer Tax of 1.45% Medicare, 6.2% FICA, .08% FUTA, assuming 1.33% State Unemployment.

3.      Coding update, HIPAA regulations, and new guidelines.

4.      Mid-range computer calculated for first year.  i.e. single drive computer – no data redundancy (Raid drives).  Computer maintenance calculated after first year.

5.      Low-end tape backup calculated in first year.  Maintenance calculated after first year.

6.      Mid-range billing software calculated.  Maintenance, support, or upgrade agreements are not included in the “In House Billing” option:

a.      Software maintenance agreements (required with some software companies)

b.      Upgrades – are upgrades required?  What about retroactive upgrades?

7.      Percentage is determined by specialty and patient mix.

8.      Based on 8% of $30,000 Gross Collections

9.      $300 - $500; $400 is based on one remote user connection

 
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