Starting a Medical Billing Business > Starting Your Own Medical Billing Business
Service package
Fabulous 30:
I have background in bookkeeping and having a hard time pricing my business, I decided to focus on mental health. When starting with no clients, can I offer packages based of number of claims, such as basic package etc.
PMRNC:
With medical billing it's not so cut and dry like basic bookeeping. In order to price your services there are a number of variables that need to be addressed. First are you looking to charge a % of revenue? If so have you researched the state to be sure it's a state that doesn't prohibit the provider from entering into a fee-splitting arrangement? Next, if you plan to charge a flat fee, decide if your flat fee is going to be based on time, or volume. I charge a flat rate based on time and my hourly rate PLUS expenses. The client is NOT privy to the dollar amount per hour, only the flat fee and sliding scale.
PMRNC has a great getting started area that includes formulas for the various pricing structures.www.billerswebsite.com
Fabulous 30:
Thank you for responding, yes I have researched my state (Kentucky) for the fee splitting info but I'm not sure if I've found what I was looking for.
Michele:
You may want to consider a flat fee. Even if your state does not have the fee splitting laws it can be a better way of charging. You can base it on the number of claims, or estimate the time you will spend, or volume of patients. You could offer different packages based on the services you will provide.
Fabulous 30:
You guys are awesome thank you so much for your help. I have another question, I have a small list of questions but not sure if that's enough so my question is what kind of questions do you ask potential clients when they call you ( beside the obvious ones) or do you have a list you could share? Thanks again!
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