Real-world medical billing service prices from BuyerZone buyers
Not sure what to expect to pay for medical billing services? We surveyed our users and assembled a collection price ranges you can see below. Be sure to keep these in mind when connecting with a service provider.
Medical billing providers almost always charge a percentage of the money they collect. That percentage will change from one provider to another - in our sample, from a low of 4.25% to a high of 8%. The bigger your typical claim, the lower the percentage you can expect to pay.
The number of patients you see will also matter. The responses below are broken down into those that see fewer than 10 patients a day and those that see more: the more patients you see, the lower you can expect your rate to be.
Two of our responses describe flat-fee arrangements. Tellingly, both are chiropractors, who typically see a high number of patients for relatively low-cost visits. In these and other specialties that handle large numbers of low-cost claims, flat fee pricing can make more sense.
Finally, keep in mind that hiring a medical billing service should be a net positive for you're your practice's cash flow. The fee that they charge should be offset by increased collection of the money that's owed you. If, after a few months, you're not seeing an improvement in collections, you may want to reconsider the service.
Medical billing prices for practices that see fewer than 10 patients per day:
- "5% of all monies collected through their efforts.
Paper claims submitted for first 4-6 weeks until they transfer all our
accounts to a clearinghouse they use. After that all claims submitted
electronically. They write letters to follow-up on appeals, denials,
amounts overdue from patients - excellent service!"
- Medical imaging provider, Chester, Maryland
- "7% for all aspects of medical billing to insurance
companies and patients, handling all billing questions, and follow-up
with re-billing as needed."
- Physical therapist, Stevensville, Montana
- Paying 6% of collections. Company is local and owner known to me with good references.
- Physician, New Prague, Minnesota
- "5% of revenue."
- Psychiatrist, Portland, Oregon
- "About $250 set up and a medical billing and
scheduling program that was complimentary; they will charge me 5% of
revenue that they generate"
- Dermatologist, San Francisco, California
Medical billing prices for practices that see 10 or more patients per day:
- "8% for billing and collections. Paperless environment."
- Physican's office, Wilmington, Delaware
- "4.25% net collections with access to a complete practice management package."
- Family practice, Oxford, Mississippi
- "$100 set up fee, flat $20/month."
- Chiropractor, Saint Paul, Minnesota
- "I brought the package for $1,899. Included were the
electronic claims filing, 75 various reports, and the ability to serve
multiple providers, plus I had prior experience using the package and
really liked the ease of operating."
- Long term care facility, Dayton, Ohio
- "Flat rate unlimited claims processing for $50/month instead of a percentage."
- Chiropractor, Provo, Utah
- "7.5% of collections with $500 up front."
- Family practice, Mount Vernon, Ohio
- "The price was not the best what we paid (7%) of the
collection. Main reason was that the supplier is local and can visit us
any time. Thanks"
- Pediatric practice, Santa Clara, California
- "Outsourced to a service @ 5% of collections. Thank you!"
- Psychiatrist, Covina, California
- "5% on billings that are collected."
- Addiction therapy, Boca Raton, Florida
- "6 percent of collections."
- Podiatrist, Alcoa, Tennessee