Author Topic: Consulting Rate  (Read 1223 times)

roxdione

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Consulting Rate
« on: October 13, 2014, 09:19:16 AM »
I've seen a lot on this particular portion of the forum regarding what one should charge as it relates to billing.  Flat rate billing seems to be the way to bill a client.  I'm looking for suggestions on how one would charge for consulting.  Right now I have an hourly rate that I charge for consulting, normally in a one particular area.  I have a potential client whom is requesting my services in performing an audit on provider documentation, billing, reimbursement and the functionality of their EMR system for both medical and dental.  The audit would be for the past 12 months, there are 3 medical providers (approx. 4400/yr) and 1 dental provider (approx. 2600/yr).  Do I charge my per hour rate or do I try and figure out how long it will take me to perform the service and provide a flat rate?

Thought I'd see what others are doing in the consulting world.

Thanks!

Merry

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Re: Consulting Rate
« Reply #1 on: October 13, 2014, 11:09:32 AM »
My opinion as someone who does consulting.  I strongly recommend an hourly fee.  You really don't know the amount of time you will spend before you get into the job and issues may (will)  come up that you may not have allowed for. Sounds like a big job.. And as a side note, please value yourself and your time.  Don't lower your rate so that they will hire you.  You will only be mad at yourself.  We have all done that.
There are quite a few of us here that consult so you will surely get more responses. Best of luck.  Keep us posted.

You can, as an option, start with an hourly rate until you get a better feel of the practice and then if you want, offer a flat fee.

Merry

PMRNC

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Re: Consulting Rate
« Reply #2 on: October 13, 2014, 01:51:39 PM »
I agree with Merry. Consulting really is a different service. I charge hourly rate + travel and expenses. How much depends on your area, experience, etc.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

roxdione

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Re: Consulting Rate
« Reply #3 on: October 14, 2014, 11:12:31 AM »
Thank you both very much for the information!  I greatly appreciate it!  After discussing with my attorney yesterday, I decided to go with my hourly rate.  The only problem is, is that I'm not certain how long this is going to take me as there's a lot of components to this request.

Any ideas?

Thanks :)