Our Medical Billing Service fees are calculated based on a percentage of the monthly collections. This creates the flexibility to keep the overhead costs in sync with the cash flow of the medical practice.
Monthly percentages will fluctuate based on specialty, type of practice, and monthly volume. Average percentages run between 5.5% – 8%.
Any additional custom services - including consulting and contracting - are based on a flat hourly or monthly rate. Fees are discussed and agreed upon prior to signing any service agreements.
Medical Billing Service fees include any and all expenses associated with the revenue cycle, and include basic medical billing services such as:
Maintenance and licensing of Practice Management software
Patient demographic and charge entry
Electronic and paper claims transmission (primary, secondary, tertiary, etc.)
Payment / EOB posting and processing
Accounts receivable analysis and follow-up
Monthly patient invoicing and “soft” collections (we can refer accounts to an outside collection agency if requested)
Phone support (local phone number is provided for patient billing inquiries)
All necessary supplies and postage
Monthly practice management reporting
Creation of electronic billing records for all patients