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The One Million Dollar Question
Outsource Billing or In-houes Billing ?
So revenue is what “ why” we go to work every day. Without it we can’t take care of patients and do what we are passionated about. It really does not matter if you are employed by a health system, private equity , small practice, super group or you are the owner.
So first, as always remember to set your expectations first. What is it that you want done and how much are you willing to pay for it.
So some of the cuff data :
A biller salary is $40,000 to $60,000 a year and they can manage 5 physicians
“ Billing “ services really vary a lot and do a lot of different things. They can charge from 3.5% to 7.5% of gross collections.
So first you need to know you gross revenue, if you make less than $500,000 paying $30,000 for billing is not a bad deal . If you are a solo provider with gross revenue without vaccines of $1,000,000 you will pay $60,000 . So it is a preference. But once you get to $2,000,000 in gross revenue , having some one else do it will cost you $120,000. You could have an in-house biller for $60,000 ( as long as you have less than 5 physicians ) so what is the other $60,000 for ?