Description Your Practice Example 1 Example 2

Current Billing Costs Without Advantage Medical Billing Solutions
Number of doctors in your practice
Note - this value does not affect calculation - for reference only
2 5
Yearly practice receivables $ $700,000.00 $3,500,000.00
Bad debt write off per year
(A conservative average would be 11% )
$0.00 $77,000.00 $385,000.00
Number of personnel
(Note - this value for reference only - not used in calculation)
1 3
Hourly rate for billing employees
Annual hours for billing employees 2080 2080 6240
Annual salary saved for billing personnel
(Examples use $13.00 per hr x 2080 hrs x # of billing personnel)
$$0.00 $27,040.00 $81,120.00
Employee benefits percentage of salary
(20% is a conservative percentage)
20% 20% 20%
Annual employee benefits $0.00 $5,408.00 $16,224.00
Annual employer portion of FICA $0.00 $2,028.00 $6,084.00
Cost of employee turnover/learning curve/training
($1000 is an avg per person)
$0.00 $1,000.00 $3,000.00
Education and Coding Seminars Annually
( $750 is a an avg per person)
$0.00 $750.00 $2,250.00
Misc. billing cost: Postage, Forms, Telephone,
Clearinghouse, coding books etc...
( .0025 of receipts is average)
$0.00 $1,750.00 $8,750.00
TOTAL $0.00 $114,976.00 $502,428

Costs Using Advantage Medical Billing Solutions:
Yearly practice receivables $0.00 $700,000.00 $3,500,000.00
Billing Service Fee for Full Service
(Percentage of what we collect
- values between 6.5-9% are typical)
%
(e.g. enter 7% as 7)
7.00% 6.50%
Cost of using Advantage Medical Billing Solutions $0.00 $49,000.00 $227,500.00
Current billing cost $0.00 $114,976.00 $502,429.00
Minus cost of Advantage Medical Billing $0.00 $49,000.00 $227,500.00
Annual change in net cash flow $0.00 $65,976.00 $274,928.00
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