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

Fees

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PMRNC:
Very simple, this might vary depending on the client/specialty, work, etc but I have a set amount lets say 10 for example; for every 10 additional patients added there is an additional charge, again this fee comes from working the numbers to come to my hourly rate. I say 10 because that's about the equivalent of an hours work.. some clients it's 5, some 20.

Pay_My_Claims:
i do quarterly and yearly reviews.

MBP:
Charlene, you are talking about how many providers you can bill for in what time. i am new to billing and i am getting faster and more efficient the more i learn, but i still wonder if i am as effective as possible (considering the level of my experience). you said billing for 4 providers in 8 hours, how many claims daily or weekly/monthly, do you take care of? i know if varies by the specialty of the provider but i would just like to get an idea so i can compare my efficiency to a person who has been in the field for a while and is good at it. i cant really calculate my productivity yet as i am still sorting through a mess my provider got into after not having any biller for 4 months and that is very time consuming and confusing.

Pay_My_Claims:
Yes, it varies a lot depending on volume and specialty and SIZE of clinic. I prefer and really want to move to doing 100% DME billing. I really love that as opposed to medical billing. The time it takes for DME depending on what they ask (claims submissions v/s auth's and submissions) can determine how much time it would take for me to do them. The provider that I work for has 3 companies and is HUGE. If I had to be honest about it and do it from beginning to end, he would be my only provider without help. I would however make the money and make it well because I would be replacing 6 employees. This is how you have to determine cost as well. If you go to a provider and they have 3 billers, I wouldn't want to charge him the same as if he only had 1, that would be shooting yourself in the foot.
I can at minimal work 4 providers of average clinics that are in the gen med specialty. This would be doing full practice management. DME billing, I can manage about 6.

PMRNC:
here is a tip and it's a good way to not only measure your efficiency but create your very own Policies & Procedures along with a company manual which I think is important in case something were to happen to you.
To start, get yourself a 3-5 subject spiral notebook. Begin logging your time and procedures per client. Do this for about 6 months and review it, you will have a good idea of how much time you are spending on each client as well as where your time can be better spent. Basically keep a diary of everything even phone calls from patients or with your client, that counts as time spent on their account. What makes it difficult to figure out in a standard day is that every practice is different. For example I had a client that only saw patients twice a week so he was only generating 10 claims a week but yet he was terrible at getting his OTR's out, he missed authorizations, when I sat down to figure all this out I found those problems and ways to fix them efficiently so that I only had to spend 2 hours a week on him as opposed to 5 or 6 which was way out of line with his production. When you are all done and within 6 months you also have the beginning of a good policies & procedures guide for your business :)  Makes it easy if you need someone to step in and help or take over someday.. always plan for the unexpected!

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