Author Topic: wording contract  (Read 2251 times)

margemib

  • Full Member
  • ***
  • Posts: 210
wording contract
« on: April 11, 2009, 08:15:59 PM »
Hi Michele,
I know you had said in one of your post about charging a flat-fee per month in NY because it is illegal to charge %.
Can you tell me how to word this?
do you charge a different amount every month accordingly?
margemib
Margie Finlay CMRS

Michele

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 4770
    • Solutions Medical Billing
Re: wording contract
« Reply #1 on: April 11, 2009, 09:08:17 PM »
One example would be to say that you are 'charging a flat fee to be determined each month based on the receivables of the previous month.'  You should run it by your lawyer to make sure it is ok for your state.

Michele
Sign Up for our FREE Medical Billing Newsletter
Get a 10% discount on Medical Billing Products by using Coupon Code: 10OFF
http://www.solutions-medical-billing.com

margemib

  • Full Member
  • ***
  • Posts: 210
Re: wording contract
« Reply #2 on: April 13, 2009, 06:55:45 AM »
Thanks Michele!
Margie Finlay CMRS

PMRNC

  • Hero Member
  • *****
  • Posts: 4254
    • One Stop Resources & Networking for Medical Billers
Re: wording contract
« Reply #3 on: April 15, 2009, 08:13:50 AM »
If you are in NY or any other state where charging a percentage is considered illegal fee-splitting, I suggest getting a lawyer to help you go over the contractual verbiage of the contract. Your contract cannot be interpreted in any way to come to a percentage of collections. For example, if you work up your fees and they COULD be construed or interpreted to have come about due to collections of revenue it will still be illegal for that provider to enter into the contract. Very sticky.. Cover yourself completely.

Linda Walker
PMRNC
www.billerswebsite.com
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

margemib

  • Full Member
  • ***
  • Posts: 210
Re: wording contract
« Reply #4 on: April 15, 2009, 08:51:16 AM »
Thanks Linda I think I should go with per-claim in NY, thanks for the advice.
margemib
Margie Finlay CMRS

gderilus

  • Jr. Member
  • **
  • Posts: 77
Re: wording contract
« Reply #5 on: April 15, 2009, 09:52:49 AM »
does anyone know if it's illegal to charge a percentage in Florida

Michele

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 4770
    • Solutions Medical Billing
Re: wording contract
« Reply #6 on: April 15, 2009, 11:22:43 AM »
Good advice, Linda.  We had our lawyer review ours to make sure we weren't missing anything.

Michele
Sign Up for our FREE Medical Billing Newsletter
Get a 10% discount on Medical Billing Products by using Coupon Code: 10OFF
http://www.solutions-medical-billing.com

PMRNC

  • Hero Member
  • *****
  • Posts: 4254
    • One Stop Resources & Networking for Medical Billers
Re: wording contract
« Reply #7 on: April 16, 2009, 07:55:08 AM »
Quote
does anyone know if it's illegal to charge a percentage in Florida

Yes, Florida is one of the states that prohibit percentage based contracts and consider it to be "illegal fee-splitting"
Florida even has some good case samples from past court cases.

Linda Walker
PMRNC
www.billerswebsite.com
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com