Medical Billing Forum
Starting a Medical Billing Business => Starting Your Own Medical Billing Business => : CharleneF September 27, 2016, 11:45:30 PM
-
I have started my medical billing company and I have a provider that has asked me to do a practice assessment of their revenue. What is a good price to charge for this type of assessment?
-
I would suggest for a flat fee depending on the no. of hours you would need to spend on this assessment project. It would be more like an expert analysis or consulting, where you will be required to review
1. the types of services they bill and their volumes
2. their reimbursements pattern (par vs. non-par rates)
3. their cost of billing including manpower, billing software, Clearinghouse charges, Infrastructure, etc.
4. their follow-up process on unpaid claims and statements and their share with collection agencies (if applicable).
5. their credentialing and prior authorization processes to fix any gaps there.
So, it purely depends on how well and how soon you will be able to perform these tasks. You may possibly mention your location, so that we can expect some expert advise from others who know about the salary in that location. Good luck.
Regards
Sriram
-
I have started my medical billing company and I have a provider that has asked me to do a practice assessment of their revenue. What is a good price to charge for this type of assessment?
If this is not a current client but you are hoping to obtain, I think I'd provide this service free. It's also a great way for you to determine how to price your services to give them an idea of cost. In the analysis you want to include some information on how your services can "improve" upon their bottom line.
-
Thank you both for your advice. I am located in Georgia and the potential client is located in Mississippi. They are wanting me to do an assessment so when she goes to speak with her EHR provider during their conference she will have a better understanding on how they will be able to assist in tailoring her services and they potentially want me to help maximize their billing.
-
Hi Charlene,
That would involve a typical coding & reimbursement analysis. You would need to review the top 10 services performed and see how well they are reimbursed. I guess the client is expecting you to find out if they were not coding / documenting to the highest payable code for the services. I looks like the EHR system does not allow the user/provider to save higher level codes if the documentation is not sufficient, which is what the provider should be needing some help with.
In any case, your flat fee model should be optimum. Not sure about the hourly rates in Georgia or Mississippi. But I found a web page that could help. Please check.
http://www.payscale.com/research/US/Job=Coding_Consultant/Hourly_Rate
Regards
Sriram