Cost Analysis
This sample is based on average costs.
|
In-house Billing
|
Professional Billing
Service
|
|
Cost of In-office Billing Staff
|
$1,672.00
|
$83.60
|
|
Taxes (state & fed), FICA, perks, workers
comp, unemployment ins., etc.
|
$551.76
|
$27.59
|
|
Postage and Paper (claim forms, envelopes, stationary,
etc.)
|
$227.50
|
$0.00
|
|
Long Distance Charges
|
$90.00
|
$0.00
|
|
Monthly Fee to Billing Center
|
$0.00
|
$600.00
|
|
Sub Total Direct Costs
|
$2,541.26
|
$714.19
|
|
Estimated Direct Savings
|
$1,827.07
$21,924.84
|
per month
per year
|
|
Value of Lost Interest
|
$200.00
|
$33.33
|
|
Cost of Uncollected Claims
|
$750.00
|
$487.50
|
|
Sub Total Indirect Costs
|
$950.00
|
$520.83
|
|
Estimate Indirect Savings
|
$429.17
$5,150.00
|
per month
per year
|
Provider
Related Data
This sample is based on average costs.
Data |
In-house
Billing |
Professional Billing
Service |
Number
of billing employees |
1 |
0 |
Hourly
Wage for data Entry |
$9.50 |
$0.00 |
| Percentage
Fee for Billing Center |
0.00% |
5.00% |
Number
of Claims per Month |
250 |
250 |
Average
Value per Claim |
$60.00 |
$60.00 |
Monthly
Value of Claims Filed |
$15,000.000 |
$15,000.00 |
Money
Collected for the Month (est.) |
$12,000.00 |
$12,000.00 |
Average
Days Before Payment |
60 |
10 |
Suspension/Rejection
Rate |
30% |
2% |
Number
Uncollectable Claims |
12.5 |
8.125 |
Assumed
Interest Rate |
8% |
8% |
SAVINGS GRAND TOTAL
$2,256.24 per month
$27,074.88 per year
NOTE: For an explanation of
the data contained in this table please contact our office.
|
|
