Starting a Medical Billing Business > Starting Your Own Medical Billing Business

Fees and Reimbursements

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arathbone:
Hi,
What is the standard percentage rate for biller payment?  I will be meeting with my first client in June to discuss this. He currently prepays a set amount for each claim and is not very happy with the service that business provides.

Also,
What is the standard mode of operations for Accounts Receivable?  Do I set up a bank account and deposit the reimbursement checks after I post them, or do I send them to the client?

One last thing.
I have seen on many posts that you have answered that you use clearinghouse software instead of a clearinghouse. What is the name of that product and where can I purchase that.  I will be using Medisoft if that is relevant.

Thanks,
Angela

Michele:
Hi Angela,
   Congratulations on your appointment.  Most billing services charge a % of what they collect.  The standard percent is between 6-9%.  You need to take a lot of things into consideration when setting your %.  What area of the country you are in, what specialties you will be billing, etc. 

   Most of our providers receive their payments directly and send us copies of the eobs.  For the providers who's checks come directly to us, we photocopy the eob & send original eob & check directly to provider once a week. 

   Regarding the clearinghouse software, the one we use only works with Lytec or Medisoft.  What version of Medisoft are you using?  I can get you a price for the clearinghouse software.  We love this option for submitting electronically and we hooked up with the company who owns it so that we can offer it to our members.  (Same price as theirs - we don't mark up!)

Thanks and Good Luck!

Michele

PTBILLER:
Michelle, Could you email this information regarding Medisoft and submission software also??  pmckewen@charter.net   Thanks!!

arathbone:
Michelle,
I will be using the Medisoft version 14 Advanced.
Thanks,
Angela

MMBS1:
Hi Alice and Michele-

I notice that with many of the questions that are asked regarding how much to charge, it is always mentioned to take into consideration the area that the provider is in. Can  you please clarify this. I am having trouble figuring that out in order to figure out what to charge. I was going to do this based on what services I am providing. Is this written somewhere how to figure this out?  :-\

Thanks!

Ashley

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