There are five major medical billing companies in United States, most of those in business know who they are, they do about 80% of all business in medical billing. They ALL use cutting edge technology.
When I make a statement, I give a link to a study, data, or factual basis for the statement.
There are five major medical billing companies in United States, most of those in business know who they are, they do about 80% of all business in medical billing.
Thanks for the comments Richard, very helpful.I agree with you that most billing companies have many things to worry about, HIPAA is not one of them, as long as you follow some basic rules do your best to comply with them.My impression is that the platform you use is the key to this business, you survive or perish on the system you choose. This is an IT business more than ever, or at least it has become one now.Office Ally/ Practice mate, I did not think that it was a good enough system that I would want to offer; but it is free.Kareo/ Practice Fusion is good enough and will do for most practices, cost $299 per month for the top platform, but not good enough for large practices.What if you have large practices:There are two that I investigated, I am sure there are others.Advanced MDHealth Fusion/ Meditouch, this works with ipads as well.The above two are more expensive than Kareo.If you charging only 5% your profit is constrained if you offer high end platforms.I could not pay $30 per hour and be profitable. In addition the technology is so superb, why do I need such experienced biller? I plan to outsource the billing for a fraction of that cost.I have to make a profit, otherwise I would not be doing this for long. You can charge more, which I would not, or you can skimp on the platform which is imprudent or you outsource, which I chose.Outsourcing does not have to be offshore, it can be within the United States.
QuoteWhen I make a statement, I give a link to a study, data, or factual basis for the statement.QuoteThere are five major medical billing companies in United States, most of those in business know who they are, they do about 80% of all business in medical billing.Please provide your link to this information.Also, tallmanusa, you remind me of this person I know. That person will ask me a question, but when I reply with an answer that is not what he wanted to hear, he goes on the defensive. You came to this forum asking if you could make a profit while charging 4%. You already believe the answer is yes and nothing will change your mind even though facts (experience, business 101, whatever you want to call it) have been presented to you. When several people have given you advice about your inquiry, you became defensive. Just read back through this thread. Several members have given you great advice. You say you are new to the medical billing field yet you act like you know it all so I am not sure why you came to this forum. However, I believe you are quite the opposite....clueless. Examples of you being clueless include HIPAA, compliance, and what a medical biller does (read back through this thread and your obamacare thread) So why did you really come to this forum?
What does that tell you?
could someone explain me?if e clinical works offers to do the billing for just 2.9%, is there any reason for a doctor to do it with a small company for a higher rate?
Businesses who fail to plan, plan to fail