Cost Analysis
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%
|
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
|
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.
|
|
