3rd Party Billing rates?

[Seabrook]

I was wondering how and what the rates are that a 3rd party billing company typically charge (what is the industry average)?

Do they charge a percentage of receipts (money collected)? If so, does the rate differ from reimbursements from insurance companies and private pay patients?

Thank you to all who respond.

[tskstorm]

I was wondering how and what the rates are that a 3rd party billing company typically charge (what is the industry average)?

Do they charge a percentage of receipts (money collected)? If so, does the rate differ from reimbursements from insurance companies and private pay patients?

Thank you to all who respond.

Industry average depends on your local area. We charge between $450 and $600 just for BLS to show up, plus care, ALS is $800-$1400.

I'm sure these prices are outrageous to most but this is NYC!

[spenac]

Often it encompasses how busy the service is, what the current collection percentage is, etc, then if you use their equipment etc. They then establish a quote usually a certain percentage of what they collect. Expect to pay about 8-12% of collections but keep in mind most of the times the amount collected will go up. For example one service I am aware of used to collect about $10000 per month doing billing collecting on their own. They started using a third party billing service that provided laptops with run report software and within a couple of months the service was getting about $25000 a month after the billing company took their cut.

Now there are also billing only services that charge a smaller percentage but they basically do not do anything but mail a bill or file for insurance. They usually take a 3-6% of what comes in but you will not see much more coming in than if you were doing the same in house.

[Richard B the EMT]

I'll preface this, by stating that I am a friend of the owner of the company I'm supplying the link to, but have never used, or been in an agency that uses, his services. I'm just offering the link as a possible source of information to the original question of this string. The service is based in, and used by agencies in and near, New York City.

(Ron, I hope I didn't just cause your e-mail to go into overload!)

www.emsrev.com