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The hidden costs you pay for processing claims and follow-up with your patients and the insurance companies can amount to a big money savings when you consider all the factors.
If you don't get paid we don't get paid! .. We work on a percentage of what you actually get paid on.
Please feel free to contact us for a Free Consultation.
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What are your true costs for medical billing when filing a claim?
For example, If you are paying $12 per hour to an employee do the medical billing, you need to add $3.60 (30%) for employer paid benefits, FICA, unemployment, worker's compensation ect.
Another factor to consider is follow-up time. What if the insurance carrier says they never received the claim? The costs for your medical billing can increase substantially when you try to handle these and other problems that come up.
It is estimated that follow-up costs are close to $5.40 to $7.05 per claim and national statistics show that 30% of all paper claims are suspended, rejected or lost! More importantly, what is the cost of your personal time to ensure the quality of the work your medical billing staff? Are they following up appropriately and finalizing each claim properly?
Additionally you must consider the monthly bills that are sent to the paitients you have. If your normal response time to your carriers is 45 -60 days, you could be lilling your patients 3 times during your collection process. This means additional costs in supplies such as HCFA-1500 forms, computer paper, copy paper, envelopes and postage to name a few.
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