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Medium Size Practice (4 FTP)
Expense Type Monthly In-House Billing Cost with Billgenix
Employee Salary (3 Full Time) $16 per hour X 40 hours per week X 4 Weeks Per Month 5% on Average of $150,000 Monthly collections
$7,680.00 $7,500.00
Medical Benefits AverageĀ $315 per PPO Plan (50% Employer Contribution) None
$472.50
Sick Days Paid Time off/Delayed Revenues None
Vacation Leave Paid Time off/Delayed Revenues None
Retirement Plan Based on $3 per $100 on Payroll (401K) None
$230.40
Workers Compensation Benefits Based on $0.95 per $100 on Payroll None
$72.96
Payroll Taxes 7.25% Employer Tax Due None
$556.80
Practice Management Software $160 Per Provider None
$640.00
Electronic Bill Submission $0.80 Per Encounter (1825 bills per month) None
$1,460.00
Total $10,472.66 $7,500.00

Outsourcing Saves Atleast 28%
The cost calculated above does not include office space lease, liability insurance, office equipment, phone systems etc.