Why you should work with ProMedClaim
| IN-HOUSE BILLING (Based on a Sole Practice with one biller) |
IN-HOUSE COST | AVERAGE MEDICAL BILLING COST (ProMedClaim Billing) |
|---|---|---|
| Employee Salary $16.00 per hour x 40 hours per week = $620 x 4 weeks = one month gross pay |
$2,773.33 | $1575.00 Average of $35,000. Net Receivables monthly deposit at 4.5% |
| Medical Benefits Employee PPO Plan Medical Insurance |
$330.00 | None |
| Sick Leave Based on ½ day per month = 6 days per year |
$64.00 | None |
| Vacation Leave Based on a one week paid Vacation per year |
$53.33 | None |
| Retirement Plan Based on a 20% Employer Contribution per month |
Varies | None |
| Deferred Compensation / 401k Employer matched contribution |
Varies | None |
| Workers Compensation Based on $2.00 per $100.00 payroll |
$52.00 | None |
| Payroll Taxes Based on 26 pay periods per year |
$93.00 | None |
| Payroll Fees Monthly fees may vary |
$20.00 | None |
| Electronic Claims 346 claims @ $0.25 per claim Based on 80% of total monthly claims with an average patient volume of 20 patients per day per provider |
$86.50 | None |
| Paper Claims 87 claims @$0.54 per claim Based on 20% of total monthly claims with an average patient volume of 20 patients per day per provider |
$46.98 | None |
| Patient Statements 10 Statements per day @ $0.50 per statement, 20 day billing cycle |
$100.00 | None |
| TOTAL PER MONTH | $3,619.14 per Biller | $1,575.00 |
Additional costs for IN-HOUSE billing.
- Office Space
- Office Equipment (Computer System, Phone, Fax, Scanner, Filing System)
- Billing Software
- Software Upgrades
- Coding Books
- Employee Training
- Storage Space
- Electricity Bills
- Coding Books
- Phone and Fax Bills
- Office Supplies (HCFA Forms, Statement Forms, Envelopes)
- Clearinghouse Charges (ex. electronic remittance advise)
- IT Server Maintenance
- Postage
- Employee Payroll Tax
- Professional recruiting companies cost if you take their help in recruiting your staff
Why should you work with ProMedClaim LLC?
Apart from immediate savings on above given things you can also be sure of following results.
- Increased Cash Flow for your practice
- Proven high reimbursement Rates for your services
- Claims will get processed within 12 Hours
- Rest assured of proper reports from ProMedClaim about your all receivables.
How you work with ProMedClaim
If you also think like our many other clients that ProMedClaim brings a lot of value to you then pls. contact us and we would quickly sign one small Registration form and Agreement and after we do it then you can immediately start sending us your all Superbills.
You can send us superbills either through Fax or Email us directly from your EMR Software or if possible in your EMR then we can take your all bills directly from your EMR without utilizing the time of your office staff.