Outsourcing
In addition to measurable increase in revenue, other major operational inefficiencies would be reduced by outsourcing your medical billing practice.
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Our clients spend their time delivering vital medical services instead of processing claims, collecting account receivables, and worrying about cash flow.
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Billnet Solutions provides complete patient and client confidentiality.
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Medical office personnel experience increased productivity, higher morale and greater job satisfaction as a result of reduced paperwork.
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Electronic claims paid within an average of 14 days after submission depending on payer.
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Our fees are affordable and are based on a fixed percent of net receivables.
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Elimination of in-house billing expenses. See: Cost Analysis example below.
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Courteous and professional telephone assistance given to patients and follow up with insurance companies by our company relieves your medical office staff of telephone traffic and the need to handle correspondence from insurance companies
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Service from a stable, experienced company such as Billnet Solutions insures the help you need will be available now and in the future.
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You maintain absolute control over the financial affairs of the practice, and receive detailed monthly reports.
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Billnet Solutions is in complete compliance with HIPAA regulations.
In-House Billing vs. Outsourced Billing
For example purposes only, numbers are subject to change according to the practice specialty.
Yearly Savings - $18,533.52
Details
In-House
Billnet
In-House Billing Solo Practice
Employee Salary (per employee)
Medical Benefits Average PPO plan $165.00 (50% Employer’s)
Sick Leave based on 1/2 day per month
Vacation, 1 day per month ( 2 weeks per year average )
Workers Compensation Based on $0.95 per $100.00 on payroll
Payroll Taxes (estimated) Social Security, Medicare, State Unemployment
TOTAL COST PER YEAR
Yearly In-House Cost
$37,440.00
$990.00
$864.00
$1,440.00
$355.68
$2,643.84
$43,733.52
Average of $35,000.00 Net
Receivables 6.0% fixed rate for billing (fixed rate varies by practice)
$25,200.00
NONE
NONE
NONE
NONE
NONE
$25,200.00
ADDITIONAL COSTS FOR IN-HOUSE BILLING
Additional Office Space – Billing Software & IT Support – Coding Books – Office Equipment – Office Supplies – Postage -Training and Continued Education
Fact
Electronic claims processing and medical billing can reduce average error rates to less than 2% by filing claims electronically most times, paper claims contain errors that significantly reduces payment turn-around time. About 30% – 35% of all paper claims are rejected due to typos, errors and omissions. Electronic claims are submitted to the carrier after being checked for accuracy by our staff and a second time by our Clearinghouse
Why Choose Us?
By outsourcing to Billnet Solutions you will simplify your medical billing and collection needs. We believe that each encounter must be filed accurately from the beginning, allowing claims to be paid in a timely manner.