If you shopped around for a billing service, you already know the typical hourly rate you will pay a billing service is $30 to $60 an hour. With any hourly rate, it is hard to budget your billing expense every month. This is especially difficult for a small practice or one that is just starting out. The hourly rate is often presented to a new practice or one that just has a few clients. We do not believe in this because it makes it difficult for that provider to know exactly what they are getting for the money spent.
Once again, if you have searched for a billing company you know the percent charged varies a bit depending on the location and what services the billing company offers. The standard can range from 7% but can be 10% or even as high as 15% of revenue collected. Have you seen that low 1% or 2% advertised in an add or on a site? Those rates are often advertised to entice. What the company fails to explain, is you will get zero customer service, no accounts receivable work, no denial management and you can forget about verification. What you are getting is a person hitting the enter button on a keyboard to send your weekly billing to the clearinghouse. You could do that for free.
When a practice pays a flat rate to a billing company, the billing company will typically not make as much money. For this reason, most billing companies will not offer flat rate. If they do offer it, they will do everything in their power to convince you percent base fees are better for everyone. The billing company is the only one that benefits in this scenario. A flat rate allows you to plan for monthly expenses with no surprises.
Accurate Billing Group offers flat and percentage rate monthly billing options. What we do not do, is convince you what is best. We look at every practice and offer options that best fits practice and budget. We are always happy to offer guidance along the way. It is your business, your practice, and your livelihood. You should decide.
Transparency, Accuracy, and Communication is key in the medical billing industry, but trust is earned. Let us earn your trust.