A practical way to improve your revenue.
Welcome. Learn how we can help your practice:
Avalon Practice Management Solutions offers a full range of services to address coding and billing challenges. From training and compliance to full-service coding and billing services and auditing. Avalon Practice Management Solutions is available to help you with your most challenging issues and to help you improve revenue while also reducing the associated risks.
What is your current billing process costing your practice?
As medical practices evaluate the option of outsourcing the medical billing functions verses performing the process internally, the related cost of each option should be considered. The analysis involves more than simply comparing the billing firm fee to the salary of internal billing staff. A proper analysis can illustrate a substantial price difference between the two options.
When evaluating the cost of performing billing and reimbursement functions internally, a practice should quantify the following items:
Salary and wages - Cost should include pay of all individuals involved in the billing and reimbursement function.
Staff benefits – Vacation, health insurance, retirement plans, social security, unemployment, etc… may equal as much as 20% to 30% of salary and wage total.
Training costs – Coding and reimbursement rules and regulations are continuously changing and may change substantially from year to year. ICD-10 has significantly changed the way coding is done. ICD-10 has 155,000 codes vs. ICD-9’s 18,000. It is necessary for billing staff to stay current on industry developments, not only for compliance issues, but also to protect your bottom line.
Office space – The space utilized by your billing staff…could be converted to additional exam rooms or space needed to expand in order to provide additional services.