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Dr. Michael Clancy
Port Angeles, WA
Report to the President Realizing the Full Potential of Health Information
Technology to improve Healthcare for Americans:
The Path Forward.
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In-house billing versus ClaimsCure™ Medical Billing Service
The Health Affairs 2009 research study on "What does it cost physician practices to interact with health insurance plans?" claims that "physicians reported spending three hours weekly interacting with plans; nursing and clerical staff spent much larger amounts of time. Physicians' practices spent an average of $68,274 per physician per year interacting with health plans."
Even with these high costs and staff attention, physicians' practices find it challenging to improve revenue collections and to contain the administrative costs. It has been estimated that:
of staff time is spent following up on claims that are initially rejected
of non-Medicare
claims are rejected
of the physicians
legitimate revenue is lost
usually a result of missing
the filing limit date because
of initial rejection.
Let ClaimsCure™ simplify the medical billing for your practice. Save time and resources and improve reimbursement rates by minimizing your claim rejection rates. Below is a comparison of ClaimsCure™ and the Industry Averages:
Reimbursement Time
Rejection Rate
2 * weeks from the claims submission
< 1% **
1 month from claims submission
4%
* Medicare and most commercial payers; subject to change by payers
** Represents average rate based on submissions; may vary
In-house billing versus ClaimsCure™ Medical Billing Service
Personnel costs
Average Software costs
Maintenance Fees
Clearinghouse Fees
Total Cost
$30,000 / year
$10,000 / year
$1,000 / year
$1,200 / year
$42,200 / year
$0
$0
$0
$0
$0
* Costs are included in the flat contracted rates