Client Login: Cost analysis of In-House vs Park Medical Billing Inc.:
** Figures based on a national industry averages using 3 providers w/ $2.1 million billed annually
| COSTS: | In-House | Outsourced(PMB) |
|---|---|---|
| Billing department costs | $118,000 | $0 |
| Software and hardware costs | $7,500 | $0 |
| Direct claim processing costs | $3,600(Clearing house fee) | $127,500 *Fee is varied by reimbursement per visit |
| % of billings collected. | 70% | 90% |
| Collections | $1,599,380 | $2,056,500 |
| Collections costs | $129,1000 | $127,500 |
| Collections, net of costs | $1,470,280 | $1,922,880 (24% Revenue Increase) |
