Flexible Medical Billing Pricing Models Tailored to Your Practice
We believe in transparent and flexible pricing. Phoenix Consulting Group Inc. offers various fee structures to align with your practice's unique needs and financial goals. During your free consultation, we'll discuss the best model for you.
Our Pricing Models
Percentage-Based Fee:
Description: The billing company charges a percentage of the practice's net collections.
Typical Range : Generally between 4% and 10%.
Factors Influencing Rate: Practice size, specialty (e.g., higher rates for complex specialties like cardiology or oncology due to higher denial risks and coding involvement), and overall claim volume. This model aligns our success directly with yours.
Per-Claim Fee:
Description: A set fee is charged per claim submitted.
Typical Range: Often ranging from $3 to $10 per claim.
Services Covered: Typically covers services from submission through payment posting. Ideal for practices with predictable claim volumes.
Flat Monthly Fee:
Description: A consistent monthly fee, regardless of the number of claims or collections.
Factors Influencing Rate: Depends on factors like practice size, specialty, and the comprehensive scope of services provided. Provides budget predictability.
Hybrid Model:
Description: Combines elements of the above models.
Examples: A flat fee for basic claim submission combined with a percentage for complex services like appeals, or a reduced percentage fee alongside a predetermined cost per claim. Offers customization and flexibility.
Hourly Rate:
Description: The billing company charges for the number of hours worked on specific, often administrative or consulting, tasks.
When Used: Typically for specialized projects, audits, or in-depth consulting, rather than routine claims processing.
Factors Influencing Your Final Cost
Beyond the chosen model, several key factors impact your final investment:
Practice Size: Larger practices may benefit from economies of scale, potentially negotiating lower rates or different fee structures.
Specialty: Complex specialties (e.g., cardiology, oncology, surgery) may have higher rates due to intricate coding, increased denial risks, and more involved documentation.
Claim Volume and Complexity: Higher claim volume can lead to a lower per-claim rate. Conversely, more complex claims require greater time and expertise, which can affect costs.
Scope of Services: Our comprehensive, end-to-end Revenue Cycle Management (RCM) services will have a different cost structure than basic claim submission or a la carte options.
Potential Hidden Fees (Transparency Matters):
Setup or Implementation Fees: One-time charges for initial setup, system integration, or training.
Minimum Monthly Fees: A baseline fee to ensure service availability, regardless of claim volume.
Fees for Claim Resubmission: Charges for reprocessing claims after initial denial.
Patient Statements: Charges for printing and mailing patient statements.
Prior Authorizations: Fees for obtaining pre-approvals for services.
Technology Access: Charges for using our billing software or portal.
We are committed to full transparency regarding all fees. During your free consultation, we will provide a clear and detailed breakdown of all costs involved.
