ROI

How We Save You Money:

Partnering with eMedical Billing Solutions  will make your practice more money in the long run.  Hiring and training new staff, employee benefits, vacation & sick leave, and staff turnover are just a few factors increasing the costs of managing an efficient in-house billing program.  Added to the operational overhead of day to day billing, software and hardware maintenance, clearinghouse fees, postage, and so on, the list of expenditures for practices is endless.

 

We will cover all of these costs and immediately do away with the problems they create.  We can  clearly demonstrate how we can save practices money, let’s compare the core costs associated with in-house medical billing against working with eMedical Billing Solutions.

 

Cost of In-House Billing:

Our comparison begins with a typical practice with one or two providers.  Let’s assume this practice has a dedicated, in-house biller receiving an annual salary of $30,000 or $14.50 per hour.

 

The chart below outlines the additional costs of having a full time employee in the office to handle all aspects of medical billing.

 

Base Pay	$	30,000
Medicare and Social Security	$	2,295
401K	$	1,080
Disability	$	720
Healthcare	$	5,220
Time Off	$	3,270
Total labor for 1 in-house Biller	$	42,585

 

 

Materials and Fees:

 

An average practice will probably upgrade computers and software every 3 years at a cost of about $6,000.  Spread out over those three years, we’ll assume an average annual software and hardware expenditure of $2,000.  Since your practice will send out its own patient statements, we’ll need about $150 per month for postage, paper and envelops, an annual cost of $1,800.  Clearinghouse fees for electronic claims will come to about $60 a month, or around $720 annually.

 

List of Software/hardware, materials and fees:
Software/Hardware	$	2,000
Materials	$	1,800
Clearinghouse Fees	$	720
Total Materials and Fees	$	4,520

 

Adding the two totals (labor + materials & fees), the annual cost of billing performed in-house by the practice comes to $47,105 per year.  This is a conservative estimate does not factor in the hidden costs of ongoing training, unexpected leave and sudden staff changes.  Assuming your practice sees 30 patients visits per day, 50 weeks a year, you have 7,500 patient visits per year.  If each visit results in an average reimbursement of $60, our receivables income is over $450,000 per year.  At a rate of 7%, the annual cost for eMedical Billing Solutions to manage all aspects of your medical billing services for the practice our cost would be $31,500.

Using eMedical Billing Solutions will result in a quicker cash flow and an annual savings of $15,605 per year!

 

 

 

 

Pricing

 

Sample Rate Schedule:

 

eMedical Billing Solutions  treats every practice individually, we are not able to offer a standard fee schedule for billing services.  Variables that are considered when providing a price quote would include charge volume, types of service, specialty, automated  or paper claim submission and annual revenue.  Our sample rate schedule will range from 7-10% of your monthly collected revenue depending on the workload invoiced monthly.  If your practice services a high volume of patients, but your fees for these visits are minimal, you will be quoted a slightly higher rate than a practice  with the opposite scenario.  All patient collectables are charged at the higher rate due to the personal attention we provide. 

 

How We Save You Money:

 

Partnering with eMedical Billing Solutions  will make your practice more money in the long run.  Hiring and training new staff, employee benefits, vacation & sick leave, and staff turnover are just a few factors increasing the costs of managing an efficient in-house credit card recurring billing software program.  Added to the operational overhead of day to day billing, software and hardware maintenance, clearinghouse fees, postage, and so on, the list of expenditures for practices is endless. 

 

If you are tired of dealing with insurance carriers or dissatisfied with your collection rate, eMedical Billing Solutions  can make a positive impact to your bottom line value.