Advanced California Physicians Medical Billing & Consulting Services
Cost Analysis Comparison
In-House Billing
|
Monthly
In-House Cost
|
Outsource Billing Costs
|
|
| 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 Fee
Fee$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!!
