Starting a Medical Billing Business > Starting Your Own Medical Billing Business
cash recovery service (?)
MBP:
how should i charge the provider who wants me to check her billing for 2009 and get all the money that has been missed? it wouldnt be working off of an aging report or backlog, because she doesnt think her previous biller submitted all the claims and there may not be all the data in the system. she wants me to compare appointment log with the system and eobs that are not even entered into her outdated software.. pretty much she wants me to clean up her 2009 billing, some rejections, apply payments, figure out if anything was missed.. i was thinking per month, but then i would specify how many patient encounters i do, that way i dont working on 500 accounts for a flat fee.. i was also thinking i could tell her flat monthly fee with the limit on how many claims/encounters i would check and if she wants me to check more, per encounter/claim fee would be charged? i dont want to end up working my butt off for no money.. i can't predict how many hours i spend on doing this and the provider didnt want per hour charge if i wasnt physically there and she could track it.. she offered in average $750/mo and said she sees 240 patients/mo.. so $3.124/claim.. is that adequate for this work?? i am too worried to get into something that i cant get out of, i am afraid i end up working day and night for few dollars per hour.. what do you guys think? i also wrote a contract using linda's advice, i thought of every single situation that could possibly happen and wrote down the solution to it. i am still worried tho. just nervous as it is my first one (besides the doctor i work for..). ???
melissa_2004:
In my opinion that rate sounds really low, even for a beginner if you have experience. I suggest you have a separate contract for her old 2009 billing as opposed to the current billing you will do. (Learned that from Charlene and Linda) Are you doing full service billing? (patient statements, posting payments, appeal for denials etc.) If so, you really need to figure in the cost or your time as you will spend quite a bit of it on old billing. I would also suggest handling the current billing first and working on blocks of old billing secondary. You have to keep the cashflow moving. Look at the carriers for the old claims. One of my clients had a contract with a timely filing deadline of 6 months vs. 12 months so half the year for a particular carrier may be past the deadline. Check the contracts first and you can begin to organize your process from there.
Pay_My_Claims:
--- Quote from: Mainstream Services Inc. on March 26, 2010, 02:30:53 PM ---In my opinion that rate sounds really low, even for a beginner if you have experience. I suggest you have a separate contract for her old 2009 billing as opposed to the current billing you will do. (Learned that from Charlene and Linda) Are you doing full service billing? (patient statements, posting payments, appeal for denials etc.) If so, you really need to figure in the cost or your time as you will spend quite a bit of it on old billing. I would also suggest handling the current billing first and working on blocks of old billing secondary. You have to keep the cashflow moving. Look at the carriers for the old claims. One of my clients had a contract with a timely filing deadline of 6 months vs. 12 months so half the year for a particular carrier may be past the deadline. Check the contracts first and you can begin to organize your process from there.
--- End quote ---
great advice
MBP:
so i just got a phone call that my first client ever, the one i have been doing a cash recovery for (for the past 3 weeks) had a massive heart attack and her brother has already cleared her clinic and wants to close it. she is in the critical condition.. well, that's not a good start. i also havent got paid and i am not finished.. so i dont even know if i should keep working on it or wait to see what i find out.. how terrible! :( and i know what is coming, you guys (probably linda :) ) will ask about the contract, there is a contract, but it doesnt include a catastrophic situation like this. i tried to think of everything what could possibly happen, but who would have thought of this??
Pay_My_Claims:
--- Quote from: Erika on April 16, 2010, 02:45:48 PM ---so i just got a phone call that my first client ever, the one i have been doing a cash recovery for (for the past 3 weeks) had a massive heart attack and her brother has already cleared her clinic and wants to close it. she is in the critical condition.. well, that's not a good start. i also havent got paid and i am not finished.. so i dont even know if i should keep working on it or wait to see what i find out.. how terrible! :( and i know what is coming, you guys (probably linda :) ) will ask about the contract, there is a contract, but it doesnt include a catastrophic situation like this. i tried to think of everything what could possibly happen, but who would have thought of this??
--- End quote ---
OK, you need to just find out who is handling the providers affairs while they are in the hospital. If the brother called you, I see that as a good sign. He knows about you, and took the time to call. I would send out a notice to the brother asking who the POA, that can make decisions. You want to determine who you should send the invoice to, and if they want you to continue billing.
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