At Dynamic Physician Billing Solutions we strive to provide each medical practice with the power to be successful. We know that claim processing is the economic life -blood of a medical practice. At Dynamic we are committed to increasing your revenue and reducing your overhead. Consider us an extension of your office, a part of your team, working diligently to impact your bottom line.
We are powered by Claim Fusion™, the leading claim scrubbing and billing software that has a PROVEN track record of increasing practice cash flows. We are more than just another billing company. We have combined the most robust, intuitive claim scrubbing and billing software with an incredibly experienced billing team, providing you with the BEST Medical Billing Service available on the market today.
Our billing and related services are grounded in data analysis giving you a complete and powerful perspective on the business of your medical practice. With our easy to use customizable reporting engine we are able to provide you with the information you need to make the right business decisions for your practice.
Medical claims processing can prove to be difficult due to the payers’ sophisticated technology that automatically rejects claims that fail to comply with any of the thousands of “billing rules” for which they screen. Dynamic, powered by Claim Fusion™, matches this sophisticated technology with its robust, intuitive claim scrubbing and processing software. Therefore, your medical claims will be processed in an effective way decreasing your costs and increasing your revenue.
Medical Practices and many Medical Billing companies that cannot afford a comparable technology find themselves awash with denied and “down-coded” medical claims that are driving their costs up and their revenues down. Also, most medical claims processing systems lack many labor saving features, forcing billers to perform manual management to re-process the data that proves to be labor-intensive.
You owe it to yourself and to your medical practice to call Dynamic Physician Billing Solutions. Maximize your earning potential and call us TODAY!
In-House vs. Outsourced Billing Solutions
For most medical practices, the outsourcing vs. in-house billing solution comes down to one factor: Cost
To help you navigate through the costs associated with doing your billing in-house vs. outsourcing it, we have come up with a hypothetical medical practice named General Physicians Practice to demonstrate the costs. Industry averages and rounding are used in the numbers of this analysis.
General Physicians Practice consists of four primary care physicians, two medical billing specialists, and a total of $2,500,000 billed claims per year. Here are the billing costs and revenue associated with this practice.
Billing Department Costs
(Staff salaries, benefits, taxes, training, time & other)
Software and hardware costs
(Practice management software & other computer hardware costs)
Direct Claim Processing Costs
(Clearing house fees & billing company fees)
% of claims collected
(Percentage of total claims actually collected)
(Total amount collected based on $2,500,000 billed)
Collections, net of Costs
In this example, General Physicians Practice benefits from outsourcing by increasing their annual revenue by $227,000. This increase is mainly due to the efficiency of outsourcing which leads to collecting a higher percentage on their claims.
A more detailed explanation of the cost assumptions is as follows:
In-house: this was calculated by adding up the median salary of two medical billing employees, healthcare costs, training costs, federal and state taxes, and some ancillary costs. Outsourced: Even when outsourcing, a practice staff will still
be required to do some follow up and other tasks to manage the information communicated to and from the billing company. This number was arrived from calculating the costs of 52 hours per year of office staff time.
In-house: annual costs for practice management software and other computer hardware costs. Outsourced: this cost reflects the computer and printer the practice will need to interact with the billing service.
In-house: Clearing house fees will apply to the practice doing billing in house. Outsourced: this is the cost a medical practice will incur based on the average fee of 7% on total claims collected in the billing industry.
In house: this number is based on the industry average of in-house medial billing. Outsourced: typically a medical practice who outsources their billing sees an average 10% increase in their billing collections.
In-house: 60% of total collections $2,500,000. Outsourced: 70% of total collections $2,500,000.
In-house: adding together billing department costs, software and hardware costs, and direct claim processing costs. Outsourced: adding together billing department costs, software and hardware costs, and direct claim processing costs.
Collections, Net of Costs: In-house and Outsourcing: Collections minus (-) Collection Costs equal (=) Net Collections.
Besides costs, there are several other factors to consider when deciding between in-house and outsourcing.
Bottom line, outsourcing your billing will
A recent survey in Medical Group Management Journal revealed the average cost of in-house billing is 12% of a practices income. 12%!
Dynamic Physician Billing Solutions is dedicated to decreasing your overhead and increasing your revenue with a small % charge of what we collect and we never collect on your practices co-payments-which is more money for your bottom line!
Contact us today for a free consultation!
Dynamic Physician Billing Solutions – Powered by Claim Fusion™
We are more than just another billing company. We become an extension of your office and part of your team
Dynamic Physician Billing Solutions was “Created by a Doctor for Doctors” and we know from a physician’s point of view, the challenges you are currently facing. We are powered by Claim Fusion™, the leading claim scrubbing and billing software that has a PROVEN track record of increasing practice cash flows. We are more than just another billing company. We have combined the most robust claim scrubbing and billing software with the most experienced billing team, providing you with the BEST Medical Billing Service available on the market today.
Dynamic powered by Claim Fusion™ provides
So you can...
You owe it to yourself and your medical practice to have your medical billing be efficient and successful; getting you the maximum return on the services you provide.
Absolutely! Currently, all of our clients have seen an increase in their collections since outsourcing their billing to Dynamic Physician Billing Solutions. Due to recurring errors or flawed procedures in the billing process, collections suffer. We proactively analyze your business and billing processes and find problem areas that need improvement. We provide you with feedback and recommendations to solve these problem areas, which always lead to increased collections.
Absolutely not! You will have better control than you ever had. Our reports are clear and comprehensive to include a “snapshot” of your monthly billing. Also, we believe in complete transparency. Meaning everything we know about your account, you know about your account. You can access your account 24/7 at no additional cost and see moment to moment what is going on with your billing. You will also have the ability to run a variety of customized reports at any time to suit your individual practice needs
Yes, including Medicare, Blue Cross/Blue Shield, Medicaid and several others. We will also handle Secondary Insurance claims which is included in our service.
Yes, we will file your claims electronically. We will also process paper claims when necessary.
The variance of payers and many outside factors make this a difficult question. However, the average turnaround in the industry is 30-45 days. We generally meet or beat the average turnaround time. Rest assured we will work diligently to get you reimbursed in the shortest amount of time possible.
1-3 days if necessary. We will need your patient demographic information and your insurance provider numbers. But that’s it! Within a week you are up and running. If you are a new practice and have not been contracted and credentialed with the insurance companies it will take longer. We provide a full service to help new practitioners with this process.
You can scan them in on your computer and automatically upload them to our file server. You can scan them into a PDF file and email the information directly to us. You can fax the information over to your dedicated billing specialist team. We can create a secure login to your system to retrieve your information. Since we are highly flexible, you and your account manager may decide on an option that works best for your practice. If the need should arise for additional information for a claim to be processed, Dynamic will contact your staff.
Yes, we send out patient statements at the close of each month.
Yes. Your staff should send all billing–related questions directly to us.
Absolutely! Our system has the capability of tracking all unpaid claims. We follow-up and track ALL unpaid claims by making any necessary corrections as well as communicate with your office staff for additional information in order for these claims to be paid.
Minimal. We have a highly dedicated staff that brings many years of experience. Because we take a team approach, we are not impacted when one individual has to leave for vacation, illness or upward advancement in their career path with Dynamic Physician Billing Solutions.
We have a state of the art network in our operations center that backs up all client data several times per day. We house our servers and data in a data center with 24/7 security. All servers are behind lock and key with access being limited to only approved personnel. Our staff is required to sign confidentiality agreements and we do not give out information over the phone to anyone but patients, or responsible parties. We use strict password policies and our server is protected by firewall and antivirus software.
Yes. You will have a specific account manager dedicated to your account, which will give you one point of contact for any communication you may need. Dynamic Physician Billing Solutions utilizes a management billing approach. Your account will be handled by an account manager that will manage your account A-Z.
Within 24 hours of receipt we will prepare your claims for processing.
All checks and payments go directly to your office or lock box address for added security. All we need is a copy of the checks and patient’s explanation of benefits for posting payments to patient accounts. We do not handle any live checks,
cash or credit card transmissions.
90% of billing is billing, no matter what the discipline. The 10% differences tend to be discipline specific nuances. We bridge this gap by performing a thorough analysis of your practice operations including reimbursement analysis to fully
understand the way your practice gets paid and operates.
Billing modules are often very costly, both in the initial purchase as well as the costs associated with training your staff on how it functions. Once your staff has been trained and you have spent thousands of dollars in training you run the risk
of possibly losing your staff for various reasons, thus leaving you in the dark. You are often lead to believe that the billing module will process 100% of your claims using the scrubbing engine which results in a low denial rate and high collections.
When in fact, it only scrubs the easy claims and has no resources to go the extra step. Maximizing your revenue requires a skilled billing specialist to review and navigate through all of the various payers and intricacies of billing.
We advise most of our clients when setting fees initially, or re-setting your fees to work from the Medicare allowed fee structure based on RVU. If you set your fee schedule too high it will have a direct impact on your contracted adjustment
and account receivables. Setting a fair and reasonable fee schedule is essential.
We will continually monitor your reimbursement rates to make sure that you are maximizing your reimbursements. We will also provide you with appropriate recommendations when deemed necessary.
We charge a percentage of what we collect. That’s it!
Dynamic Physician Billing Solutions was “Created by a Doctor for Doctors”
You owe it to yourself and to your practice to call Dynamic Physician Billing Solutions. Maximize your earning potential! Call us TODAY and see the difference!