Medical Billing Outsourcing vs. In-house billing
If you are like most medical providers, you probably never had the time to work out the comparison of outsourcing your billing vs. doing it in-house. Below is a quick analysis of potential savings by outsourcing your billing needs:
| In-House Base Pay: $14.50/hour Yearly: $30,000.00 Medicare & Social Security: $2295.00 Retirement: $1040.00 Disability:$720.00 Health Care: $5220.00 Vacation/Sick: $3270.00 Annual Collections: $470,000.00 Annual Total 1 In-House Biller: $42,585.00 |
Medical Billing By Payment Automation Network Medical Billing at: 5% of collections Annual Collections: $470,000.00
Total Annually: $23,500.00 Savings: $19,085.00 |
| *Does not include: Software $500 per year Paper/Envelopes/Stamps $1800 per year Clearinghouse Fees $1500.00 per year Reference Materials $350.00 per year
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Medical Billing at 7% of collections
Total Annually: $32,900.00 Savings: $9,685.00 |
Could Outsourcing your Electronic Medical Claims Filing make financial sense for you in your practice? Would you like a free detailed analysis for your office? Contact us to setup a time to discuss your specific situation. We will be happy to run your numbers and give you a detailed cost savings analysis.
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