|
|
| Medical Billing Savings Study |
| If
you're a doing your own billing, we may be able to add over
$50,000 to your annual net income! Please review the following
actual small practice case study. We'd like to review your
practice and estimate your savings. |
|
| Summary
of Savings: |
| Increased
Net Income |
Current
|
Potential
|
Net
Income Increase |
| Increase
Your Billing |
$720,000
|
$756,000
|
. |
| Increase
Your Collections |
$504,000
|
$642,600
|
$138,600 |
| Reduce
Your Operating Cost |
$94,040
|
$75,060
|
$18,980 |
| . |
.
|
Total
|
$157,580 |
|
|
|
| Current
In-house Billing Cost Estimate Per Doctor: |
| Fees |
Amount
|
Monthly
|
Annual
|
Comments
|
| Monthly
Billing |
. |
$60,000
|
$720,000
|
. |
| Collection
Rate |
70%
|
$42,000
|
$504,000
|
(Varies by Specialty) |
|
| Operating
Cost |
Description
|
Monthly
|
Annual
|
Comments
|
| Billing
Manager |
Enters Superbills,
Files with Insurance, Settles Disputes |
$3,750
|
$45,000
|
Full-time includes wages,
benefits, space, long distance |
| A/R
Clerk |
Sends out Invoices
and Enters payments |
$2,350
|
$28,200
|
Full-time includes wages,
benefits, space, long distance |
| Practice Management
Software |
$300/month |
$300
|
$3,600
|
. |
| Records Storage |
$100/month |
$100
|
$1,200
|
Required to keep records
3 years |
Receptionist
Time
Answering Calls |
3 hour per day
@ $15/hour |
$900
|
$10,800
|
. |
Retraining
when
someone leaves |
1 week |
.
|
$2,000
|
. |
| System Problems |
Network, PCs,
Training |
$200
|
$2,400
|
. |
| Website
Maintenance |
Changes |
$50
|
$600
|
. |
| Website Hosting |
$20 per month |
$20
|
$240
|
. |
| . |
Totals
|
$7,670
|
$94,040
|
. |
|
|
|
| Potential
savings with ADC Medical Services: |
| Fees |
Description/Amount
|
Monthly
|
Annual
|
Comments
|
| Monthly
Billing |
. |
$3,000
|
$756,000
|
(5% higher because
of Schedule Analysis and Negotiations with
Insurance Companies) |
| Collection
Rate |
85%
|
$3,550
|
$42,600
|
Our specialist
can usually add 10% to your collections |
| ADC
Fee |
10%
|
$5,355
|
$64,260
|
. |
|
| One
Time Fees |
Description/Amount
|
Annual
|
Comments
|
| Setup |
Converting
Patients and Account Receivables, Website
Development, HIPPA Plan Submission |
$
3,500 |
$2000 if you
sign up for 2 years |
|
| Services
Included with our Billing Service at no
charge: |
| |
Description/Amount
|
Monthly
|
Annual
|
Comments
|
| Billing
Manager |
Enters Superbills,
Files with Insurance, Settles Disputes |
$3,750
|
--
|
. |
| A/R
Clerk |
Sends out Invoices
and Enters payments |
$2,350
|
--
|
. |
| Practice Management
Software |
$300/month |
$300
|
--
|
. |
| Records Storage |
$100/month |
$100
|
--
|
. |
Receptionist
Time
Answering Calls |
3 hour per day
@ $15/hour |
$900
|
$10,800
|
Receptionist
answers first level billing questions and
we take the more complicated questions. |
Retraining
when
someone leaves |
1 week |
.
|
--
|
. |
| System Problems |
Network, PCs,
Training |
$200
|
--
|
. |
| Website
Maintenance |
Changes |
$50
|
.
|
. |
| Website Hosting |
$20 per month |
$20
|
.
|
. |
| . |
Totals
|
$7,670
|
$10,800
|
.. |
|
|
|
|
|
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