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Description
Your Practice
Example 1
Example 2
Current Billing Costs Without Advantage Medical Billing Solutions
Number of doctors in your practice Note - this value does not affect calculation - for reference only
2
5
Yearly practice receivables
$
$700,000.00
$3,500,000.00
Bad debt write off per year (A conservative average would be 11% )
$0.00
$77,000.00
$385,000.00
Number of personnel (Note - this value for reference only - not used in calculation)
1
3
Hourly rate for billing employees
Annual hours for billing employees (Examples use 2080 hrs per employee per yr)
2080
6240
Annual salary saved for billing personnel (Examples use $13.00 per hr x 2080 hrs x # of billing personnel)
$0.00
$27,040.00
$81,120.00
Employee benefits percentage of salary (20% is a conservative percentage)
20%
20%
20%
Annual employee benefits
$0.00
$5,408.00
$16,224.00
Annual employer portion of FICA
$0.00
$2,028.00
$6,084.00
Cost of employee turnover/learning curve/training ($1000 is an avg per person)
$0.00
$1,000.00
$3,000.00
Education and Coding Seminars Annually (
$750
is a an avg per person)
$0.00
$750.00
$2,250.00
Misc. billing cost: Postage, Forms, Telephone,
Clearinghouse, coding books etc... (
.0025
of receipts is average)
$0.00
$1,750.00
$8,750.00
TOTAL
$0.00
$114,976.00
$502,428
Costs Using Advantage Medical Billing Solutions:
Yearly practice receivables
$0.00
$700,000.00
$3,500,000.00
Billing Service Fee for Full Service (Percentage of what we collect - values between 6.5-9% are typical)
% (e.g. enter 7% as 7)
7.00%
6.50%
Cost of using Advantage Medical Billing Solutions
$0.00
$49,000.00
$227,500.00
Current billing cost
$0.00
$114,976.00
$502,429.00
Minus cost of Advantage Medical Billing
$0.00
$49,000.00
$227,500.00
Annual change in net cash flow
$0.00
$65,976.00
$274,928.00
Use our Free EMR and further impact practice cost and profitability. Call us at 1.877.666.5279. We look forward to hearing from you!
