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

Contracts

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LW5689:
Hi Michele,
What is the "going rate" or "average rate" for charging per claim fee?
Thank you.  Lori

Michele:
For us it depends on the type of billing/specialty.  We charge from $3 - $6 per claim.  Things we take into consideration are:

What insurances?  (Medicare only, or multiple carriers, etc)
Repeat patients?  (Mental health, chiro)
What state the provider is in?  (Are we already set up to do electronics)

Hope that helps.

Michele

LW5689:
Is 1 year the average contract term?  Is it ok to offer a trial period (3-6 months) if that is the only way to get a provider to try out your services?

Michele:
One year contracts tend to be the norm.  We actually don't have an end date to our contract but our providers can opt out if they choose with 30 days notice.  We haven't had a problem with this type of contract as we do a terrific job so they don't want to opt out.  Many like to have a set date that the provider must use their service for.

I personally would do a 3 month period to get a client if they were a good client.  For example, I probably wouldn't do it for a small provider, but for a provider that I think would be long term, and high income, I would.  Especially if I felt they just needed to feel secure by doing a 'trial period.'

Good luck!

Michele

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