Starting a Medical Billing Business > Starting Your Own Medical Billing Business
Questions from a Newbie
bpark73:
--- Quote from: Michele on August 01, 2016, 10:32:43 AM ---Williamsportor is correct in saying that a flat monthly fee is a great option. In some states % billing is considered fee splitting. If you still choose to bill % most base it off of net.
As for software, again good advice. If they have a software it may be best to use theirs. If you are purchasing your own, I am not a fan of Medisoft. But I do like Lytec. Been using it for over 20 years. If you are interested in Lytec, we use reseller SMG Systems from Long Island. We don't get anything from them for referring people, we just like them. But mention that you heard about them from our forum. They will treat you good.
I have never heard of Dr Chrono and I've never used Kareo.
--- End quote ---
Michelle thank you for the great info...
I am more and more interested in flat fee pricing however I'm curious to know more about % based. You say most % is based on net...by net are you referring to the amount collected (insurance, deduct, PR)? I'm currently working for a small billing business who charges % based on amount and I'm realizing they are having a hard time making ends meet and am second guessing if this pricing model even makes sense.
Secondly, my other question is if I was to do a different type of % based pricing should I do based on billable amount or allowed amount?
thank you again!
Brian
bpark73:
--- Quote from: PMRNC on August 02, 2016, 12:16:46 PM ---I also don't charge a % as in NY physicians can't sign a contract that represents a fee-splitting arrangement. I charge flat fee based on hourly rate + costs and sliding scale. Works great because I get paid for all of my work regardless of the receivables.
I don't maintain software or costs at all. I access my clients system. My personal preference is Kareo as it has some really rich and powerful features. I don't recommend them however if you've never worked on other PM systems, or have no experience.
--- End quote ---
Linda thank you much for good info. I also am a fan of Kareo and I do like what you said about being paid for your work despite receivables. Several questions for you if you don't mind.
1. In terms of charging Dr's a flat fee for your work despite receivables, did you experience any push back from doctors for this type of pricing? And if so how did you respond to them?
2. In terms of accessing your clients software, can you elaborate a little more? Are you talking about vpn and or virtually accessing their computers from your location? How difficult is this to do?
Thank you again for your valuable input!
Brian
Michele:
--- Quote from: bpark73 on August 25, 2016, 02:29:15 AM ---
--- Quote from: williamportor on July 31, 2016, 04:25:43 PM ---1. I charge a flat monthly fee based on the "package" of services the client requires. i.e. claims submission, posting of payments, mailed invoices to customers etc.
2. If possible, I try to use the clients existing practice management software to submit claims. This can be done by logmein123.com or in the case of office ally simply setting up a new username and password. This cuts down on data entry work. If this is not possible, I use office ally.
Best of Luck :)
--- End quote ---
William great info! Would you mind elaborating a bit more on using existing client software via logmein123?
Essentially are you talking about vpn? ...or virtually logging in to a client's computer and using their pre-existing software to submit claims?
I"m a newbie to the billing industry so any detailed info would be greatly appreciated and thank you for your time!
Brian
--- End quote ---
When you use logmein you are connecting to their computer meaning that you are essentially using that computer to work. No one can be using that computer at the provider's office while you are on logmein. So you would be using the software on that machine to do the billing.
Michele:
--- Quote from: bpark73 on August 25, 2016, 02:37:39 AM ---
--- Quote from: Michele on August 01, 2016, 10:32:43 AM ---Williamsportor is correct in saying that a flat monthly fee is a great option. In some states % billing is considered fee splitting. If you still choose to bill % most base it off of net.
As for software, again good advice. If they have a software it may be best to use theirs. If you are purchasing your own, I am not a fan of Medisoft. But I do like Lytec. Been using it for over 20 years. If you are interested in Lytec, we use reseller SMG Systems from Long Island. We don't get anything from them for referring people, we just like them. But mention that you heard about them from our forum. They will treat you good.
I have never heard of Dr Chrono and I've never used Kareo.
--- End quote ---
Michelle thank you for the great info...
I am more and more interested in flat fee pricing however I'm curious to know more about % based. You say most % is based on net...by net are you referring to the amount collected (insurance, deduct, PR)? I'm currently working for a small billing business who charges % based on amount and I'm realizing they are having a hard time making ends meet and am second guessing if this pricing model even makes sense.
Secondly, my other question is if I was to do a different type of % based pricing should I do based on billable amount or allowed amount?
thank you again!
Brian
--- End quote ---
Most % billing is based on the amount collected. That is the selling point. "We are paid based on what you are paid" giving the billing service incentive to work hard to make sure all is collected. However, that is exactly what makes it fee splitting as well. I have heard of others trying to do % based on billed amount or allowed amount but personally if I were a provider I would not agree to that. If I'm going to pay on % it is going to be what I collect. JMO.
PMRNC:
--- Quote ---1. In terms of charging Dr's a flat fee for your work despite receivables, did you experience any push back from doctors for this type of pricing? And if so how did you respond to them?
--- End quote ---
No, I don't have any problem with it. Again, I'm in NY where physicians are not allowed to enter into a contract that "splits fees" so once I explain that to them if needed they are fine. I really haven't run into any provider who has a problem with it, all their other bills are paid based on the services performed as well, why would a billing company be any different. You don't see their accountants or lawyers charging a % <g>
--- Quote ---2. In terms of accessing your clients software, can you elaborate a little more? Are you talking about vpn and or virtually accessing their computers from your location? How difficult is this to do?
--- End quote ---
You can do it a number of ways. All of my clients except two have server based systems to which I have my own HIPAA compliant access. For the other two I use logmein. This is a great thing for billing companies because i've seen many have to turn away clients because they couldn't convince the provider to make a transition to a new software. Conversions are not always easy and they are also time consuming. Using the clients software allows the billing company to immediately begin and there is NO downtime or conversion time. This is not a good model for a new biller who doesn't have experience working on various different softwares. Again, though it is a great marketing tool.
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