Starting a Medical Billing Business > Starting Your Own Medical Billing Business
Help!
PMRNC:
Well the first thing I would do if I were you would be to correct your contract AND your method of charging FIRST! Going flat is good because you can then decide what you want to make for your time.. you can then explain this method to the provider thereby offering him an incentive to get the office to work with you. For example you might be spending 30 hours on this account and possibly 10 of those hours could be saved just by having them get their act together.
The formula I use is
Decide on hourly rate
Deduct Costs (clearinghouse fees, forms, postage, etc)
Hours per week this acct will take
You can create a sliding scale based on increase of hours by account or by the account itself.
I like this method MUCH better than % because I am getting paid for everything I do which is especially helpful when you do come across those types of clients. Hitting them in the "pocket" usually does the trick. When I charged on a % I used to increase the % for accounts I had to research due to the practice not sending me what I needed so they usually learned pretty quick <g> For chronic offenders that I just can't seem to educate or get to cooperate I begin charging them another fee based on the extra work I had to do from them not sending me what I needed. Of course all this has to be spelled out in your contract.
Pay_My_Claims:
Good ideas Linda. Organization and preparation are very key. Good blessings to you C.
carnilent:
very good, thank you :)
carnilent:
How do I go about letting my client know that we are going to change to a flat rate?
Do I let her know about the split fee law?
carnilent :-\
PMRNC:
If your contract is not able to be changed according to the terms then yes I would present the issue by writing a letter.
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