MetroMedical Solutions Saves You Money

 

The cost of hiring an in-house medical billing person:

Salary ($15 per hour) $31,200
Payroll Taxes $1,872
Healthcare Insurance $3,850
Retirement $895
Vacation and Sick Time $2,700
Postage $400
Clearinghouse Fees $1,188
Software/Hardware Maintenance $2,900
Supplies $2,000

                                       Total:            $47,005

 

 

According to the above example, hiring a single in-house biller/coder would conservatively cost $47,005 a year.

Let's compare this to the cost of outsourcing your billing:

The expenditure of using a billing company is usually based on a number of factors. Here at MetroMedical the fee is a percentage based on what we collect for your practice. So for example, if a practice's total yearly income is $600,000 and we are charging a fee of 7% then the total yearly cost for billing will be $42,005.

That is a savings of $5,005 each year.

Not only is a practice saving money by switching to a billing company but they are gaining peace of mind. Billing will no longer be pushed to the side because of employee turnover, sick time, vacations, etc.