Thread: Billing Question

Good Afternoon,
I was hoping someone would be able to help or guide us on what we will be charging. First there will be about 225 claims per day that we will be billing. Second we are also doing the collection and follow up side. We have been told there is quite a clean up back log that they need help in clearing up. It sounds to be quite a task that will take quite a bit of time. We are new and want to make sure we charge correctly. I have seen alot about flat rate and percentage rates. Would it be a good idea to bill per claim and then a flat rate for the collection side? It seems the flat rate is most common here in NJ but since we are also billing the claims is it feasible to bill a dollar amount per claim as well, or just one flat rate for everything? From what we have been looking at we are unsure what is to much or to little, we just want to make sure we are in the correct ballpark. This is our first client and we don't want to run them off with over pricing but we also don't want to under bill ourselves either. Thank you so much in advance for your help.

If you have a client coming on to which there is a lot of work to setup and they want you to work on backlog I think it's best to break up in two .. one for services day-to-day and one structure for the backlog. Strongly reccomend looking at reports to see how old claims are, status of claims, patient balances, etc. You don't want to take their word for it and price too low for a lot of work. I personally like the flat fee schedule because I base mine on hourly rate but client really doesn't see it. i then add expenses. But I never quote pricing until I have established at least a good base estimate of time needed on this account. Keep in mind, as you estimate time that they may not be your only client in the future, so you always want to make sure the account won't eat up all work hours for current staff if any.
You don't mention software/setup, will you use theirs or your own? Big deal breaker. For my business I don't maintain any software or system costs, the client does. BUT if they don't have one, once they get one or switch to another then you have to look at the time/costs and efficiency of conversions.
YOU need reports and the ability to sit down to review them before quoting them a price. Our office has been using Parkmedicalbilling for over 3 years. Their software support teams are the best and work diligently to resolve any and all issues with tremendous followup! Their software is continually evolving and improving with a note system that's awesome and easy to use.