In House Vs Annapolis Billing

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We calculate a rate that is fair to both your practice and Annapolis Billing Service. There are economies of scale in billing, so the bigger the practice, the lower the rate. Also, the higher the average charge, the lower the rate. The percentage we generally charge a practice is 6.0% of net collections (example percentage used below), but each practice is different and we consider all elements of the practice.

 

Let's look at the cost of performing the billing services for one physician COLLECTING $50,000.00 per month .In this scenario, we will use one billing employee for a single physician. 

 

One Billing Employee for a single physician'

  

In-House

Yearly

Billing company

Yearly

Employee Biller

$33,500.00

Trained Medical Billing Team

Included

 After hours/overtime

 805.00 ( 40 hours  per yr)

Follow-up and appeals team

Invaluable

Health Insurance

$4,800.00

Health Insurance

Included

Vacation time (2 wks)

$1,288.00

No vacation time

Included

Sick Time (5 days)

$644.00

No sick days

Included

Taxes

$2,331.00

No taxes

Included

Software Maintenance

$4,800.00

Software maintenance

900.00

Clearing house, postage and forms

600.00

Clearing house, supplies and postage

Managed

 Centricity PM

 1200.00

Billing software

1200.00

 Denial/Appeals

 invaluable

Management Reports

Included and invaluable

Incentive to be relentless

N/A

Incentive to be relentless

YES

Total Employee and supply Cost for in-house billing.

 

 

$51,255.00

 

 

 

 

Total Savings

Total  Annapolis Billing Service  

 

 

 $11, 055.00 - Time, Money and Headaches

$40,200.00