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Chiro Specialty Profitable?

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Pay_My_Claims:

--- Quote from: PMRNC on May 28, 2009, 01:26:49 PM ---I don't recommend ever purchasing a PM software off of Ebay and Craigslist, way too many bootlegs out there not to mention there are licensing fees to companies such as Medisoft. You never BUY the software, just the right/license to use it. It's true there are some vendors using Ebay but you have to really do your homework to be sure they are reputable and the copy will be licensed to you. I've seen a lot of people get stiffed buying off Ebay and Craigslist is even worse.

--- End quote ---

Amen on that Linda.

PMRNC:
I know someone who bought their PM Software there for $3100 which WOULD have been a decent bargain, she took it out of the box and the license agreement wouldn't let her go on.. she called the company and they told her she had to pay the full price since the copy she bought was not a licensed copy.. not the software company's fault because they fully disclose this fee to their customers, she couldn't get her money back either because in small print on the Ebay sellers page it said something like "Price does not include software company's licensing/registration fee"  OOPS
So she was completely out the $3100 because it was a $5000 software. A lot of people don't realize you really don't BUY the software but instead you buy the rights to use it. You don't really "own" it per' se.

dfranklin:
Thanks for the great responses...I really appreciate everyone's help!

As for my web based software it is per provider if each provider is billing under their tax id...if they bill under the office tax id then it is considered 1 provider.  The monthly base is $75 which includes 25 claim submissions.  After the 25 it is $1.00 per claim up to 500, 500+ =.75.  The system is great though especially for newbies...it is really easy to use and has a lot of benefits. I can provide controlled access to the doctor, office staff, their CPA and any of my "future staff" to login from anyware (no additonal fees).  It is called Medrium. Have you heard of it?  What do you think about it?  The idea is to sell the provider on using this software in their office for appointments scheduling, updating info etc...

For the 2 sets of books: The provider is tracking all of their stuff in house both insurance payments and patient payments.  They don't look to me for any data. Essentially as far as they are concerned they have only 1 set of books.   They forward me the EOB's and correspondances so I can track the insurance payments so I can stay on top of them and make sure we recieve all insurance payments. 

My % is NOT based on all practice revenue.  ONLY insurance payments because they don't just take the patient responsibility at face value....they come up with individual prices for the patient.  IE They will tell a patient you will have to pay $50 /visit (just an example) plus what we receive from the insurance.  So with all these different agreements and special arrangements for the patient payments I would not be able to track them if I wanted to..


What are modalities and why would it be more beneficial to have a chiropractor that has physical therapist or at least modalities?

Thanks!

Michele:
If the average claim charge is $50 and reimbursement is < that, then 30-50% of your fee is going to your software isn't it?  It will be hard for you to make much that way. 

I just think that charging you per claim (your software vendor) is not in your best interest. 

Curious what others think on the fees for the software.

Michele

PMRNC:
 I have to agree with Michelle.
Since your software is based on per provider with monthly fees, you would be justified in passing on that cost to the provider, it's only when you do NOT incur charges on a per client basis that it would be considered the "price of doing business". Also those monthly fees are high.. there are free cleearinghouses and even the other ones (good ones too) that charge per claim the usual rate is $.25cents to .50cents. a $1.00 per claim (even after 25 free) is high.. too high in my opinion. It sounds like the vendor is nickle and diming you.. I've seen Medrium (not privy to their pricing structure) and I can safely say you can get the same features in a more appropriately priced software.


--- Quote --- My % is NOT based on all practice revenue.  ONLY insurance payments because they don't just take the patient responsibility at face value....they come up with individual prices for the patient.  IE They will tell a patient you will have to pay $50 /visit (just an example) plus what we receive from the insurance.  So with all these different agreements and special arrangements for the patient payments I would not be able to track them if I wanted to..
--- End quote ---

That does not sound on the up & up to me.. sounds like they are waiving copay's, lowering patient OOP, etc. But that's another issue.  It's only natural all patients will have a different OOP, that's what adjustment codes are for. The superbills or daysheets have a spot on them to indicate the payment, it gets posted and then patient is billed balance. If there is hardship on file that has a place to be indicated in software.. I'm not seeing the logic of them doing their own patient statements UNLESS like I mentioned there is some funny stuff going on.. even then it's not in their best interest.

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