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    Medical Billing Cost Calculator

    In-House [Annual]Outsourced [Annual]Do It Yourself and Compare [Annual]
    Billing Staff Salaries (Two employees at a salary of $3,800 per month each + 30% in taxes and benefits)$103,360$0
    Billing Software Cost ($150/provider/month)$3,600$0
    Hardware costs (Printer, cartridge, workstation)$500$500
    Continued Education Training Cost$3,000$1,000
    Ancillary Costs (Office Space/Office Supplies, Patient Statements, Others)$8,000$0
    Direct Electronic Eligibility Verification & Claim Processing Cost (Clearinghouse Fees $99/provider)$2,376$105,000 (6% of collections)
    Gross Collections$2,500,000$2,500,000
    %age of Gross Collections (including Adjustments, Write-offs, and Bad Debts)60%68%
    Net Collections$1,500,000 (60% of $2,500,000)$1,700,000 (68% of $2,500,000) (modest 8% increase in collections with third-party)
    Total Collection Costs$120,836$106,500
    Net Collections$1,379,164$1,593,500
    Final Savings$214,336

    Savings Calculator for 3 Physician Practice

    In-House [Annual]Outsourced [Annual]Do It Yourself and Compare [Annual]
    Billing Staff Salaries (Two employees at a salary of $3,800 per month each + 30% in taxes and benefits)$103,360$0
    Billing Software Cost ($150/provider/month)$3,600$0
    Hardware costs (Printer, cartridge, workstation)$500$500
    Continued Education Training Cost$3,000$1,000
    Ancillary Costs (Office Space/Office Supplies, Patient Statements, Others)$8,000$0
    Direct Electronic Eligibility Verification & Claim Processing Cost (Clearinghouse Fees $99/provider)$2,376$105,000 (6% of collections)
    Gross Collections$2,500,000$2,500,000
    %age of Gross Collections (including Adjustments, Write-offs, and Bad Debts)60%68%
    Net Collections$1,500,000 (60% of $2,500,000)$1,700,000 (68% of $2,500,000) (modest 8% increase in collections with third-party)
    Total Collection Costs$120,836$106,500
    Net Collections$1,379,164$1,593,500
    Final Savings$214,336