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Medical Billing Fees Charged To Clients

Medical Billing Fees Charged To Clients

If you’re thinking about outsourcing your medical billing and you aren’t sure how the invoicing part works or how fees are calculated by your medical billing partner, you will find the fees are very reasonable and when you consider the time your staff will be suddenly realizing from not chasing claims, finding documentation and filing and answering appeals, will translate into more dollars for your practice, besides the fact your medical billing claims will be paid within about 2 weeks instead of the 60-90 days range that you are probably experiencing if you are still filing your claims yourself.

You will find that most medical billing companies charge a percentage of their clients reimbursement deposits as their fee for services. Some medical billing companies have a minimum that your practice must commit to meeting.

When you decide to outsource you medical billing, you will be given a form to fill out that asks details about your practice, this is so your potential medical billing partner can ascertain your specialty and it is important to know the practice patient mix and breakdown of CPT codes by frequency to really know what to watch for in terms of billing and coding for your individual practice’s needs.

A good example for how fees might be figured for your individual practice would be if there were 2 Psychiatry practices that generated the same amount of medical billing but through different means. If one practice did only group therapy and billed seperate claims for 6 patients in a group; and another Psychiatric practice only did individual therapy and billed each patient,the work done by your medical billing partner would be far less than for a group therapy and the fees would consequently be less. However, even in the busiest practice, the fact alone that you would realize less than 2% rejection or denial of claims where as the average is nearly a quarter of your business if you are filing your claims yourself, makes any fees paid seem quite small.

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