As the leading healthcare billing solution, Alygence Solutions offers the best pricing for its clients. We as a team work hard to make clinical doctors, hospitals, and medical firms with a perfect price range Our professionals are well-versed in offering a great pace of stress-free journey to the medical world. Medical billing is the salient aspect of each healthcare unit. The crowd of patients doesn’t allow doctors to get into a billing regime. So, we are here to serve. Bliss to the medical practitioners is something provided by us. Our genuine services are like a magnet to healthcare practitioners. This blog will show you the pricing model of our company in an enhanced way.
Our Focus Points
- Appropriate Accounts Receivable (A/R) Follow Ups
Accounts receivables are an important part of every billing solution. We also focus on brilliant account receivable follow-ups with medical insurance companies and patients. This reduces the losses incurred in terms of payments. A glitch by the insurance companies comes to a zero when our expert follow-up for accounts receivable.
Verification for proper eligibility of the patients is effectively performed by us. This factor is most important for any dental billing solution. We ensure accuracy in the process of verification. Being a vital part of the medical billing process, Alygence Solutions starts working on the claims after a detailed verification process of the patients.
Pricing Range of Our Services
We offer regular and urgent services to our clients. The pricing model varies according to the services availed by the medical companies. The price range for the services we offer is as follows,
Accounts Receivable (A/R) Follow Up
A/R follow-up is the necessity in the Revenue Cycle as 100% automated or manual clean claim submission and 100% payment collection from insurance and patients as hard to achieve due to machine and human errors. Service that we offer to our clients depends upon what type of pricing model has been considered.
- Monthly collection Basis Usually its 5% to 7% on the total collection done But, the range can vary from 3% to 10%.
- FTE Basis It ranges from $1200 to $1400 per FTE(full time Employee), again it depends upon the services that is requested by the healthcare provider
- Per Claim Basis Its outdated, but still in practice and mostly used by small practices with low monthly collections, per claim submission charges can be from $5 to$10 per claim submitted and payment collected. The prices depend upon the agreement between medical company and the healthcare provider.
Accounts Receivable (A/R) Follow Up
An urgent A/R follow-up is too on the list. Yes, sometimes there is a need for an emergency A/R follow-up for the patients. We serve the medical practitioners with the same. With a genuine price range of $5 to $12, we provide great relief to our medical clients.
Regular Eligibility Verification
For regular eligibility verification, we are offering a price line of $3 to $5. This is a simple and essential process availed by every medical practitioner. So, the pricing is quite worthy.
Urgent Eligibility Verification
For an urgent need for eligibility verification, our company offers quick service to healthcare providers. Pricing lying between $5 to $12, sounds appropriate for emergency service.
After putting up a glimpse of the pricing of medical billing of our company, let us move to some medical statistics. A comparison between the costing of the Offshore and In-House models will make it easier for you to understand.
A Brilliant Comparison of Offshore and In-House Medical Billing Costs
In the USA, if we talk about the cost of an in-house medical billing company, it costs around $16-$18 an hour. Whereas, offshore medical billers cost lesser than $8 to $10.
There are many points of comparison that will make you decide wisely between the two. A perfect revenue cycle management is possible with the best cost of billing. With fine services, every medical practitioner needs efficient cost. So, examining a perfect price range is an essential part.
If we talk about the medical billing market, offshore billing has taken a jump. In 2020, the value ofthe global medical billing outsourcing market size was $10.2 Billion. This value is expected to expand at a CAGR( Compound Annual Gross Return) of 12.66% from 2021 to 2028. Let us compare in-house and offshore medical billing according to some main headings. Let us go on a sample comparison of both the medical billing aspects.
- Billing Department Costs
Under in-house medical billing, a medical practitioner requires an FTE (Full-Time Equivalent) billing specialist, salary plus benefits to the employees, training, office, and supply cost. This makes an approximate cost of $29,500. Whereas offshore billing services work for 2 hours per week for $15, this costs only $1600. You can better compare the numbers.
- Software Costs
Offshore billing never pains you with the software costs. But under in-house medical billing, software costs are approx. $4400. The comparison is quite clear.
- Hardware Costs
Hardware costs for offshore medical billing are approximately $750. On the other hand, computers and printers are required for in-house billers. This may give you around $2400 bucks as a cost of hardware.
- Claims Collection
In comparison to the in-house medical billers, the offshore billing is collecting more claims with a difference of approx. $2,50,000.
The bottom line suggests that get the best services with Alygence Solutions. We provide you with perfect medical billing procedures. An appropriate price range must have allured you. So, visit us and have a glowing medical billing regime for your healthcare unit.