Author Topic: Pricing for your billing service  (Read 1209 times)

mcneil.karen

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Pricing for your billing service
« on: October 04, 2016, 11:15:56 AM »
I have just finished reading Alice and Michele's book on Pricing Your Medical Billing Service.  A great resource for new and existing medical billing business.  An easy read with real life examples that will help you as you work on pricing for your service.
In the book there was provided some sample questions to ask the provider that will help to gage your pricing.  In some of the questions I am not sure how to analyze the answers that would be provided by the provider and how to tie them into the pricing model.  For example the questions about how many patients you have? How many patients you see per day? and what is the average reimbursement per service.  We are looking at a flat fee billing.
Thanks for your anticipated feedback.

Michele

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Re: Pricing for your billing service
« Reply #1 on: October 05, 2016, 01:07:49 PM »
Glad the book was helpful.

Depending on the type of practice the number of patients they have can sometimes be helpful but it is not one of the key pieces of information used in formulating a flat fee.  However the number of patients seen per day and the average reimbursement per service are important.  If you are calculating a flat fee you need to know how many claims you will be doing in a week or in a month.  That is where the number of patients per day comes in.  As for the average reimbursement, that should be taken into consideration as well.  It can indicate the level of difficulty (not always but sometimes) and can give you a little insight as to what they collect.  Also, as we mention in the book, we will sometimes calculate what a % would look like to see if our flat fee is in the same ballpark as the billing services that quote %.  I am not suggesting that you use the % to determine your fee as % billing is illegal in many states.  I'm just saying that when you are trying to determine a flat fee and you are new to it, knowing approx what they collect in a month can be helpful.
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mcneil.karen

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Re: Pricing for your billing service
« Reply #2 on: October 06, 2016, 10:22:07 AM »
Thank you very much for responding to my questions Michele.  It all make sense for me now.

Michele

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Re: Pricing for your billing service
« Reply #3 on: October 06, 2016, 12:26:07 PM »
 :)
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Ruthie1972

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Re: Pricing for your billing service
« Reply #4 on: October 11, 2016, 09:52:18 AM »
Where Can I order this book?

kristin

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Re: Pricing for your billing service
« Reply #5 on: October 11, 2016, 07:53:44 PM »
At the bottom of the forum page there are clickable links, look at those to find the book.

Michele

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Re: Pricing for your billing service
« Reply #6 on: October 12, 2016, 08:11:12 AM »
Here is a link directly to the page for that book.  http://www.medicalbillinglive.com/pricing-your-medical-billing-service/ 
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Ruthie1972

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Re: Pricing for your billing service
« Reply #7 on: October 12, 2016, 10:11:19 AM »
Thanks so much!