Starting a Medical Billing Business > Starting Your Own Medical Billing Business
Pricing your billing service
williamportor:
--- Quote from: PMRNC on April 29, 2015, 07:05:30 PM ---
--- Quote ---Not a bad idea you have there. I prefer to bill my clients a flat rat, but based on a percentage of their average monthly volume. i.e. $10,000 average monthly billing volume x .07 = $700.00/mo. This can be adjusted when the contract is up for renewal.
--- End quote ---
This would not work in NY since the verbiage includes language to say the fee cannot even be BASED on %. I bill my flat fee based on an hourly rate + expenses. Easy and straight forward. I get paid for all work I do. There is a sliding scale to accommodate practice growth.
--- End quote ---
Perhaps I didn't explain properly. I use their monthly billing volume as a guide, nothing more. The billing volume is not mentioned in the service agreement, only the flat monthly fee. I calculate the clients monthly fee based on the hours I think I'll spend actually working. Sorry for the confusion.
tallmanusa:
There are Public and private companies that sell medical billing services and charge a percentage fee. They also do business in New York.
This includes Athena Health (Symbol ATHN), General Electric (GE), Cerner (CERN).
Also private companies, like Kareo, Nuesoft, Advanced MD. There are thousands of other companies who do the same.
All of the above companies charge a percentage fee for medical billing services. A visit to their websites or call to their rep would confirm that.
These companies have CEO who are paid in the tens of millions of dollars; and have full time General Counsels who are paid millions. I am sure they have looked at the law very well.
All of this is public information.
Percentage billing is the norm in the industry.
PMRNC:
--- Quote ---There are Public and private companies that sell medical billing services and charge a percentage fee. They also do business in New York.
This includes Athena Health (Symbol ATHN), General Electric (GE), Cerner (CERN).
Also private companies, like Kareo, Nuesoft, Advanced MD. There are thousands of other companies who do the same.
All of the above companies charge a percentage fee for medical billing services. A visit to their websites or call to their rep would confirm that.
These companies have CEO who are paid in the tens of millions of dollars; and have full time General Counsels who are paid millions. I am sure they have looked at the law very well.
All of this is public information.
Percentage billing is the norm in the industry.
--- End quote ---
::) ::) :o And politicians are not supposed to lie..but hey it's the norm. And for the MILLIONTH time..it is NOT illegal for the billing company to charge a %. THE LEGALITY and responsibility is on the physician in the state that prohibits fee-splitting.
tallmanusa:
Let me get this straight.
So there is one set of laws for those who make millions (or billions) in this business and another set for those who at the bottom of the totem pole filing claims for a few bucks an hour. And they are advised that they should charge other than percentage so that they remain at the bottom and can never compete.
Obviously most companies and the millionaires are not concerned whether it is "illegal" for the physicians to pay by percentage, but the lowly person at the bottom must be concerned, should be worried sick.
What an advice!
I am sure when the millionaires in this business go to their palaces, their hearts must start to bleed, as they have jeopardized the physicians by " fee splitting ".
Ours is a society in which rich get richer and poor become poorer; lack of proper information is but one of he causes that makes the poor poorer.
PMRNC:
Captain: "What we have here is a failure to communicate"
--- Quote ---So there is one set of laws for those who make millions (or billions) in this business and another set for those who at the bottom of the totem pole filing claims for a few bucks an hour. And they are advised that they should charge other than percentage so that they remain at the bottom and can never compete.
--- End quote ---
What? Who said anything about their being two sets of laws? This is ONE side the law tilts against.. physicians.. NOT the billing company, read the umpteenth posts about this and read the verbiage of the state law(s) and you will find this is about physicians. Companies that make millions ..well every American has that opportunity, the liberal mind of thinking is to penalize the CEO's making millions.. that's their right to do so, not our right to say no. Every doctor that signs on with a billing company IN The state where fee-splitting is illegal will be the one breaking law. The physician can (and case precedence are there to show it has been exercised) be sanctioned and even lose their license. Do all billing companies care? NO.. should they care.. YES because of people who can't seem to wrap their head around a law just because "It's not right" or "everyone else is doing it". If you would like some referrals to attorney's who have defended physicians on this, let me know.
I will say this one more time and hopefully it will sink in: THE LAW makes it illegal for the PHYSICIAN to enter into any fee-splitting arrangement.. The billing company does not break the law if they sign a physician willing to take that risk. YES billing companies will take advantage of knowing this and allowing a physician to take that risk.. shame on them. Shame on the doctor also for not consulting with legal counsel before signing a contract. This is where I love the law for the small billing company, a chance to swoop in and care. To the rest, everyone else is doing it.. so go on ahead.
--- Quote ---Ours is a society in which rich get richer and poor become poorer; lack of proper information is but one of he causes that makes the poor poorer.
--- End quote ---
Spoken like a liberal ... :o Not lack of information.. lack of understanding and then ignoring information is more like it. The poor will stay poor, the rich will get richer in a free society of free trade and land of opportunity. Bless AMERICA!
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