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Would your practice like a $57,875 raise

The New England Journal of Medicine states that the U.S. Healthcare system is so inefficient that 24 cents out of every dollar is wasted on administrative and billing expenses. Below you will find a brief rundown of the internal costs incurred by one doctor's office versus the expenses of outsourcing the billing functions to a specialist.

YEARLY IN HOUSE EXPENSES:

$9,275       Server, Computer Hardware costs for a one-doc practice

$4,200       Average Practice Management Software/updates/license fees

$5,000       IT person to maintain all functions and HIPAA compliance

$1,750       Yearly maintenance costs for one-doc office

$3,850       Tape Backup

$1,700       Clearing House Fees

$14,400      T-1 line for clearing house submission and remote access for physician

$40,000      One Full-Time biller with benefits

$2,500        Statement and Postage Costs

$1,000        Educational classes to keep up with industry changes             

$83,675     Total costs to bill internally

YEARLY OUTSOURCING EXPENSES:

$3,500    Computer/Printer with internet access for a one-doc practice

$2,500    One-time database cost/building, implementing and staff training

$1,800     Licensing fee for each year

$18,000   Billing Fee 7% based on amount collected.

                (Estimate based on one doc office)

FREE       No need for an in-house IT person

FREE       Software Updates

FREE       Data Backup and Storing

FREE       Statements and Postage

FREE       Clearing House fees

$25,800    Total costs to outsource billing function

Solution: SAVE an astronomical $57,875 by using Medorizon. A web based practice management software program designed to give you access and reports 24/7 anywhere you have internet access. No headaches. With a disaster recovery plan in place your risk is minimized and revenue is maximized.