Op-ti-mal (op-ti-mal)
adj. Most favorable or desirable;
optimal. billing. solutions.
In-House Billing Solo Practice Monthly In-House Cost Optimal Billing Cost Real-Time Cost (Enter your own values)
Employee Salary (per employee)
$17.00 per hour x 40 hours per week = $680
$680 x 52 weeks = $35,360
$35,360 รท 12 months = $2,946.67
$2,950 = one month gross pay 		$2,950.00 $2,100.00
Average of $30,000.00
Net Receivables at 7.0%
Medical Benefits
Average PPO plan $175.00
(50% Employer's portion of dues or stipend) 		$87.50 NONE
Sick Leave Coverage Based on 1/2 day per month varies NONE
Vacation Leave Coverage
Based on a one week paid
Vacation per year 		varies NONE
Retirement Plan 401K
Based on a 3% Employer
Contribution per month 		$90.00 NONE
Other Employee Costs or Perks Varies NONE
Workers Compensation
Based on $1.25 per $100.00
on payroll 		$45.0 NONE
Payroll Taxes (estimated)
Social Security, Medicare,
State Unemployment 		$214.50 NONE
Practice Management Software
Average cost for monthly
web-based sofware use,EMR 		$200.00 NONE
Electronic Claims Submission Fee
@ $0.35 per claim
Based on 70% of total monthly claims (300 claims) 		$73.50 NONE
Paper Claims
(Cost of Supplies & Postage)
@ $0.82 per claim Based on 30% of total monthly claims (300 claims) 		$73.80 NONE
Patient Statements
(Cost of Supplies & Postage)
@ $0.84 per statement
Approximately 50 per month 		$42.50 NONE
TOTAL COST PER MONTH $3,776.30 $2,100.00
ADDITIONAL COSTS FOR IN-HOUSE BILLING
Office Space - Office Equipment (Computer System, Fax, Printer Scanner, Copier, Locking Filing System) - Billing Software & IT Support - Coding Books - Training - Con-Ed Seminars-Chart Storage Space - Electricity - Phone Charges - Office Supplies, Printer Ink,Copier Toner,Paper Etc.
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