General Category > General Questions

How Do You Track A/R

<< < (2/3) > >>

PMRNC:
If she's working the A/R and wants to charge a % there are more variables to research such as collection laws, etc.
That's why I recommended an hourly rate, then you get paid fair market value for the work put in. If I am WORKING the A/R I charge $1.00 per account setup and then $18 an hour (NY, NJ) When going hourly it always works out fair to both the provider and the consultant/biller.  It's much easier than coming up with a formula and then having to worry about issues such as fee-splitting, collection regs, etc.  The $18 an hour I charge is for all work UP to the point of turning over the account to a full service collection agency/service, once I have worked the accounts as far as I can up to that point I make a recommendation to the provider and I'm done. No waiting for them to pay me my monthly invoice, no having to worry about getting all the EOB's. If they don't let me know something was paid and I'm still working the account, they pay me for that time they wasted.   JMO.  Also going a % you have to remain competitive to the collection agencies and then you could really undercut yourself because you have to make it cost effective for them to hire you over the collection agency who would do full service collections.

Pay_My_Claims:
I can understand that however the way her question is posted isn't like she is working AR as in Cash Recovery, but more so continuous. They are submitting the claims and she is following up. "and they would like me to keep the new charges current" I totally don't like the set up of this deal

billspecial:
Maybe I'm confusing everyone. I will be working the A/R meaning following up on old claims resubmitting, appeals and whatever else needs to be done. Also, whatever else shows up on the A/R they would like me to keep current. When the account needs to be turned over to our collections department (internal) separate rates apply. I have just never worked with a client that requested us to work on their A/R alone.

PMRNC:
Ok, that's not so unusual. When working the A/R one of the top priorities is to keep it current, but that's a bit confusing since you are not actually doing the billing so it sounds like they want you to stay ON top of the current (followup) BEFORE it gets to the problem time frame. Are you going to load these into your PM software or will you be working remotely or logging into their system or account? 

I'm still sticking with my advice that hourly is the way to go.

billspecial:
I will be working remotely through their software and out of mine to track the balance owed to us. Which seem like extra work entering patient demos ect. When you suggest a hourly rate is that based on a 8 hour day? Silly question but trying to get all the details. Thank you

Navigation

[0] Message Index

[#] Next page

[*] Previous page