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Start up fees

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ChristineS:
For those of you who use start up fees, how much do you charge and how do you explain it to the provider?

PMRNC:
Depends on the practice, I've charged as little as $100 and as much as $3000. I can tell you that I never EVER EVER waived the full setup fee, it's like a security deposit (non-refundable) to prevent being taken advantage of. What I have done however is give them a time frame; for example, I might say, if you sign my contract by the 15th of the month, I will deduct a $100 from the setup fee.
The larger setup fees of course are more for the larger practices; high volume, high turn-over and lots of data entry.
My smaller clients would pay an average of $300-$400 in setup and again I would deduct a little from it to entice them into signing soon. But I've never waived a setup, I saw too many billers get used for a few months of work and never get paid.

Linda Walker
PMRNC
www.billerswebsite.com

ChristineS:
If it is for a chiropractic clinic with one doctor do you think $300.00 would be fair?

PMRNC:
Have you taken a look deeper into the practice? Average Reimbursements, common denials, patient volume, claim volume, unfilled claims? clearinghouse fees, what costs you will have off the top in setting them up, etc.
You have to really look at the whole picture before you can quote them, this way you don't lose money to take on the client.

Linda Walker
Practice Managers Resource & Networking Community
"One Stop Medical Billing Resources"
www.billerswebsite.com

carnilent:
I have had to waive my start up fees.    The Docs did not want to pay at all only a percentage of the amount collected.
 >:(

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