Based on a recent Black Book Survey of Physicians ( here are some startling industry stats:

  • 42% of All physicians practices (1 to 5 doctors) hope to outsource their billing in the next 12 month


Providing services with integrity to improve quality. 
 While solving  your practice needs because we care.
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  • 81% of All physicians say they are overworked or at full capacity
  • One reason is because they are having to update and maintain the software they were sold.
  • Also they do not know how to use these big software systems.
  • These software systems have doubled the time that doctors spend with a patient instead of shorting it.
  • Up from 75% in 2012 and 76% in 2008
  • Only 19% say they have time to see more than patients. 
  • Physicians spend 20% of their day on paperwork
  • Billing paper work that has nothing to do with the patient care
  • 89% of All physicians agree their billing and collections systems need upgrading
  • 87% of All physicians state a preference for a single source RCM/EHR vendor
  • Based on a single provider office sending 6,200 claims per year. According to Medical Group Management Association (MGMA) it cost an average of $27.50 to rework a denied claim.
  • This equates to roughly $33,000 per year. 
  • Effect ICD-10 will have on a practice:
  • 50.1% say it will create a severe administration problem
  • 11.3% say it will improve diagnosis and/or quality of care
  • 75.3% say it will unnecessarily complicate coding 
  • 38.3% say it will expose physicians to liability/penalties

In-House vs Outsourcing
In-House Department
Base pay: $14.50 /hour

Yearly: $30,000.00

Medicare & Social Security: $2295.00

Retirement: $1040.00

Disability: $720.00

Health Care: $5220.00

Vacation/Sick: $3270.00

Annual Collection: $470,000.00

Annual Total 1 In-House Biller: $42,585.00 

Elite Management Solutions LLC
Medical Billing at: 5% of collection

Annual Collections: $470,000.00

Total Annually: $23,500.00

Savings: $19,085.00

Medical Billing at 7% of collections

Annual Collections: $470,000.00

Total Annually: $32,900.00

Saving: $9,685.00

As you can see, the future of Revenue Cycle Management is having a specialist outside the office do the hard stuff, so the doctors can focus on practicing medicine.
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803 Steam Boat Street | Knightdale, NC 27545

Office: (919) 727-3070 | Fax: (844) 438-6952