Advanced California Physicians Medical Billing & Consulting Services
Cost Analysis Comparison
In-House Billing | MonthlyIn-House Cost | Outsource Billing Costs | Compare your REAL Costs(Download Spreadsheet) |
Employee Salary (per employee)$22.00 per hour x 40 hours per week = $880$880 x 52 weeks = $45,760$45,760 ? 12 = $3,813.33$3,813.33 = one month gross pay | $3,813.33 | $2,800.00Based on $40,000Net Receivables at 7% | |
Medical BenefitsAverage PPO plan $550.00(Average employer portion 50%) | $275.00 | NONE | |
Sick LeaveSix days annually | $88.00 | NONE | |
Vacation LeaveBased on one week per year | $73.33 | NONE | |
Retirement PlanSimple IRA3% Employer Monthly Contribution | $105.60 | NONE | |
Workers Compensation$1.85 per $100 on payroll | $70.30 | NONE | |
Payroll Taxes (estimated)Social Security, Medicare, State Unemployment | $518.00 | NONE | |
Overhead Costs | |||
Practice Management SoftwareAverage Monthly Cost for ASP model | $300.00 | NONE | |
Electronic Claims Submission FeeFee$0.49 per claimBased on sending 300 claims electronically* | $147.00 | NONE | |
Electronic Remittance Advice$0.46 per explanation of benefitsBased on receiving 100 claims | $138.00 | NONE | |
Paper Claims$0.90 per claimBased on 100 claims for appeals cost of supplies and postage | $90.00 | NONE | |
Patient Statements$0.75 per statementApproximately 75 per month | $56.25 | NONE |
TOTAL COST PER MONTH*overhead costs may vary | $5,431.21 | $2,800.00 | Your Total: |
ADDITIONAL COSTS FOR IN-HOUSE BILLING
- Office Space Lease
- Office Equipment (Computer System, Phone, Fax, Scanner, Copier, Filing System)
- Billing Software & IT Support
- Coding Books
- Updates
- Training
- Electricity
- Phone Charges
- Copy Charges
- Office Supplies (HCFA Forms, Statement Forms, Envelopes)
- Printer & Copier Ink
- Postage
THIS COULD ADD UP TO THOUSANDS!!