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Thread Topic: How much do you savings?
Topic Originator: Margaret
Post Date May 10, 2005 @ 2:21 PM
How much do you savings?


Margaret
May 10, 2005 @ 2:21 PM Reply  |  Email Friend   |  |Print  |  Top

I am interested to find out how much a company would save if they outsourced.

Lets say they do 200 claims a week. They pay their biller $28,000 a year.

Can anyone explain a general situtation on why they would outsource this work.

Thanks
Margaret

Traci Quinlan-Cluff, CPC
May 11, 2005 @ 7:56 PM Reply  |  Email Friend   |  |Print  |  Top

Some benefits of outsourcing to a billing service is you never have to worry about attendance, if somebody is sick or on vacation, plus your company doesn't have to pay for sick/vacation leave.

Then there is the cost of software the billing company has there own.  You don't have to give up the space in the office.  One less thing for the Office Manager to have to look over. You don't have to pay a clearing house for your electronic claims or statements/postage.  You don't have the headache of hardware/software support.

When you find that good billing service make sure that they do Insurance aging/ patient aging.  

The list goes on.  It does save the doctor money in the long run.  Plus there are several Billing services that have certified coders there.  You would paying for there services as well in that fee.

I can keep going on.  I hope this helps

Traci Quinlan-Cluff, CPC
Professional Medical Billing, LLC

Ashish
May 12, 2005 @ 10:02 AM Reply  |  Email Friend   |  |Print  |  Top

U CAN SAVE ATLEAST 50 % OF WHT U ARE SPENDING NOW.

U CAN MAIL ME ON  a1734@rediffmail.com, for more info and also in $28000 dollars which u are spending u cn get work for almost half of it if u can outsource ur work to my firm . we are having exp. of almost 5 years and aware of hipaa and other rules of medicaid and medicare and other commercials payers

MY NAME IS ASHISH .

Quality of Medical Billing in India
Indian Service Providers are trained in regulations pertinent to Medicare, Medicaid, blue products, managed care, third party liability, workers compensation, Preferred Provider organizations, indemnity insurers and have a complete understanding of CPT, HCPCS, ICD-9 coding Level I, II, III. They also have the ability to identify data as relates to submitting a clean insurance claim for reimbursement by insurers.

A 100% quality control program is instituted on the start up of a new client contract. This is to assure the accuracy of the data entry matches the specifications initially outlined. After this a random program is maintained as a mechanism to monitor staff and for ongoing personnel training.

Productivity statistics are compiled and communicated with the client as a tool for measuring the outsourcing arrangement. Indian companies are experienced and the outcome will provide the client with a higher quality product at a reduced cost.

Advantage of Outsourcing Medical Billing to India
The low-cost structure allows US billing agencies a reduction in their staff operating expenses by outsourcing their data entry to qualified team members who have expertise in the medical billing field.

Here are just some of the things that Indian Service Providers pay careful attention to:


Advanced Technology
Human Resources
Clear understanding of billing agent's needs
Methods to resolve issues quickly and fairly
Financial Stability
Cultural Fit
Proven track record
Reasonable price
Performance measures
Communication, initial and ongoing
Site visits
Data Confidential, retention, destruction protocols
Contract agreement  with service levels and consequences
They also use the latest technology to ensure the seamless flow of information between the parties. With digitally encrypted data circuits connecting the two, the transfer of dedicated data to the staff in India is made possible. Indian Service Providers can also adapt to any software that you have. This way you, the client, do not have to purchase new software to accommodate the billing process.

This billing process requires very little from the client and has many advantages like cost and time control with no special software requirement.

BrendaK
May 13, 2005 @ 12:38 PM Reply  |  Email Friend   |  |Print  |  Top

Hi,
There is so many reasons to outsource you billing,collections,a/r aged accounts....to list a few
1.Savings in respect to employee training, staff turnover
2.Increasd and more consistenet cash-flow
3.Reduced administration costs
4.Reduction in office expenditures(postage,software,phone bill) etc
5.Protected health,personal and financial data security and privacy       mandated  by our United States HIPAA Compliance regulation.
6Contact me @ brenda@strategicpracticesolutions.com for a more extensive list of reasons to outsource! There are several more reasons for a physician(s) to outsource....

Lisa Paoli
May 14, 2005 @ 4:22 PM Reply  |  Email Friend   |  |Print  |  Top

That's about $3.50 per claim and that's on the low side.  They take care of more then just filing your claims though, they take care of posting, follow ups and patient billing.  So in a way you're looking at a very good price.  Put that amount in what dollar amount they are collecting for you, opposed to what you are collecting now.  

The average amount per claim is 5.00-7.00 for Full service.  An average percentage is 6-9% some even higher.  

Yes you can go the outsourcing to offshore way and get cheaper service, but you are dealing with people you do not know with your billing.  Getting a billing center in the USA personalizes your services and you are not just a number to us.

Lisa Paoli, CMRS
President of IL-AMBA Chapter
www.medofficesolutions.net
www.localchapters.net

sugan
September 25, 2005 @ 2:11 AM Reply  |  Email Friend   |  |Print  |  Top

Hi Margaret!

My name is Sugan, and writing from Chennai, India.   I would like to your reply On your querry of how-much would you save if Outsourced to India.    

Well, there are many things that you actually save
Time:  You Outsource your day-to-day activities to an Offshore Company in India, by this you definitely get more time, in which you can improve your core-competencies, efficiency of the staff, and build your business further.

Manpower:  You really need not have to worry about the skilled-man-power set that would be required based on the state and the type-of-billing say for example, dential, chiropractice, podiatry etc. etc.   The Outsourcing company in India will take care of all those things.

Salary's:   Let's take an example of having a small-unit in USA and Inida.  For example, you have business-tie-up with a cardio-doctor who bills 50 patients in a day.   On a monthly basis you will have 2200 to 2500 Charge/sheets to be billed.  For this you would definitely require a Team of 4 People (Charge/Cash/AR/FOLLOW-UP, Patient calling, Managed care issues, Provider Relations ships etc.)  The salaries that you would be paying for this 4 People team would be a minimum of $7000 to $10000  per month, but if the same is outsourced as per the Indian cost-structure the salaries of all these 4 would be a maximum of $2000 to $2500.     By this you gain, and also the TEAM you have with you will be Optimally utilized in doing more marketing and getting more business in-house, which increases US-Economy too..

If you would like to have business relation ship with Our Company pl, do write to me at b_sugan@yahoo.com.   I would be more privleged to share many things with you, which would be off use for both of us...

Have a Good Day!

Sugan

Tiffany
June 6, 2007 @ 7:10 AM Reply  |  Email Friend   |  |Print  |  Top

Depending on the company you are outsourcing in India too, Nothing. I worked for a large medical billing company that decided to outsource to India to save $$ however, it ended up with me getting 30+ emails a day to respond to, insurance complaining about the accent, and then telling them how to correct denials when they are suppose to know this.

I do not believe in outsourcing to India just to save $$. There are companies here in the USA who are more qualified and can save you money as well.

I have to ask. Those that outsource to India, do you inform your patient's that their personal information is being sent to another country? Probably not.

Tiffany Pietrowski, CMRS

Genieve Nottage
August 1, 2007 @ 6:55 PM Reply  |  Email Friend   |  |Print  |  Top

AVERAGE PRACTICE:                    CHRONICLES BILLING:
Office Manager-$14-$25 hourly               +Professional Staff - NO FEE
Experienced Biller-$12-$16 hourly          +Certified Biller - NO FEE
Experienced Collector-$12-$16 hourly          +Certified Collector - NO FEE
Staff Benefits-$3,000-$10,000 annually          +Chronicles Billing - NO CHARGE
=======================                         ========================
Average $10,000-$12,000+ Monthly          

Whether you are charging a percentage or per claim a practice  would still save by outsourcing.Outsourcing is defined as moving some of the firms internal activities and decision responsibility to outside providers (Chase et al., 2005). In order for a business to be successful they need to make sure that their operation management is managed efficiently. Medical providers are faced with the task to provide quality care to their patients. The care does not end with the provider. Care also includes the involvement of administrative staff which also are responsible for a numerous amount of additional tasks.Much time is only focused on the billing and not the follow-up that goes along with that. Outsourcing their billing and collections to a reputable company (after they have performed a benchmark) can improve a the providers cash flow.

Genieve Brown-Nottage CMBS,BSHA,CPC,MBA
(800) 467-0141 or (770) 954-1358
genieve@chroniclesbilling.com

Genieve Brown-Nottage CMBS,BSHA,CPC,MBA
August 1, 2007 @ 6:56 PM Reply  |  Email Friend   |  |Print  |  Top

AVERAGE PRACTICE:                    CHRONICLES BILLING:
Office Manager-$14-$25 hourly               +Professional Staff - NO FEE
Experienced Biller-$12-$16 hourly          +Certified Biller - NO FEE
Experienced Collector-$12-$16 hourly          +Certified Collector - NO FEE
Staff Benefits-$3,000-$10,000 annually          +Chronicles Billing - NO CHARGE
=======================                         ========================
Average $10,000-$12,000+ Monthly          

Whether you are charging a percentage or per claim a practice  would still save by outsourcing.Outsourcing is defined as moving some of the firms internal activities and decision responsibility to outside providers (Chase et al., 2005). In order for a business to be successful they need to make sure that their operation management is managed efficiently. Medical providers are faced with the task to provide quality care to their patients. The care does not end with the provider. Care also includes the involvement of administrative staff which also are responsible for a numerous amount of additional tasks.Much time is only focused on the billing and not the follow-up that goes along with that. Outsourcing their billing and collections to a reputable company (after they have performed a benchmark) can improve a the providers cash flow.

Genieve Brown-Nottage CMBS,BSHA,CPC,MBA
(800) 467-0141 or (770) 954-1358
genieve@chroniclesbilling.com

Michael Chronos, MHA
February 27, 2008 @ 12:13 AM Reply  |  Email Friend   |  |Print  |  Top

Hello Margaret,

I agree with all that has been said regarding the direct savings you will receive due to outsourcing. My company, Pinnacle Medical Billing conducts a claims analysis that actually will define the dollars that can be saved. My 20 years of experience in Healthcare has helped. I would be happy to talk with you or conduct an analysis. If you would like, You can contact me at the number or email below. Thanks and I wish you well.

Michael Chronos, M.H.A.
Pinnacle Medical Billing, LLC
16810 Creekside Ave. Suite 100
Tinley Park, IL. 60487
(708) 407-8715
michael.chronos@comcast.net



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