Medical Billing Trends
  • The global medical billing outsourcing market is projected to reach $19.7 billion by 2026, expanding at a compound annual growth rate of 11.8 percent.

  • Last year, front-end services dominated the global medical billing outsourcing market.

  • The global medical billing outsourcing market was dominated by hospitals last year (largest market share) and that is expected to continue through 2026.

  • North America dominates global market (largest market share) last year. Projected to continue expanding amid the U.S. implementation of ICD-10.

  • Key players in the global medical billing outsourcing market include Accretive Health; Allscripts; Cerner; EClinicalWorks; GE Healthcare.

SJP Billing, A Michigan based, minority owned company, offers a unique approach to medical billing and follow up services. Using the most current version of Kareo billing software, we will handle all aspects of your billing needs. Set Up: Our professional staff will contact the insurance companies, set up electronic billing and provide paper claims to companies that require them. Eligibility: Insurance verification done on each patient before claims are submitted, preventing denied services. Follow up: Insurance companies will be contacted and follow up done all denied or pending claims. Patient Collections: All past due accounts (copays, deductibles and coinsurances) will receive a collection call as well as a paper statement, monthly.

Owner, Cynthia Roland, with over twenty years of experience, A medical biller translates health care services into medical claims, which are then submitted to insurance companies. Medical billers must follow up the claims to ensure that providers get paid. Depending on the job, you might be responsible for both billing and coding. Most, however, specialize in one or the other.

WHAT WE DO?

Is your billing process inefficient?

If your collections are dropping every day, your in-house billing department may be having issues. Outsourcing to a third-party provider could significantly reduce the number of rejected claims and the time taken to receive payments.

Do you have high staff turnover?

Staff turnover in a small or independent medical practice, especially in the billing department, can be damaging. Claims processing is the lifeblood of a medical practice. Any additions or replacements in the billing team will inevitably slow down claims processing..

Do you have different priorities?

Many solo physicians and small medical practices aren’t too savvy with the business side of things. Some just want to help patients and not undertake administrative tasks. Outsourcing the billing process eliminates this daily hassle and allows you to focus on providing patient care

Here at SJP Billing we are a awesome team. Medical Billing Professionals here to help assess and improve processes and outcomes. A passion for billing excellence.

  • Cynthia Roland

    Owner

    Oversees all aspects of the Billing Department including financial counseling, billing, collections, utilization review, peer review processes, and data entry. Responsible for the optimization of all aspects of the revenue cycle. Accurately reports all aspects of the revenue cycle.

  • Billing Coder/Analyst

    Investigates and initiates resolutions to complex claim problems. Identifies training gaps and assists employees to ensure consistent application of established guidelines. Identifies issues with procedures or processes and provides feedback to management on changes and development. Responsible for the accurate and timely processing of medical claims.

If you own an independent medical practice, you’ve likely wondered whether you should keep your billing processes in house or outsource it to a third party. Different practices will have different preferences based on their size, daily patient volume, number of staff, available budget etc. For a medical practice, billing and revenue cycle management are critical to ensuring business sustainability. As your whole cash flow depends on efficient billing, it’s vital to manage it properly. You must assess your operational costs, patient volume and staffing to determine the correct billing model for your practice.

What we provide?

Billing department/staff costs

In-house: This cost is calculated by adding the median salaries of two medical billing staff members with their health care costs, federal and state taxes, training costs and other ancillary costs such as office space, statement paper and office stationery. Outsourced: In this model, a staff member has to follow up/communicate with the third-party billing company and undertake administrative tasks of managing all the information. They would be required to devote at least 52 hours per year of their office time for such activities.

Software and hardware costs

In-house: This cost would normally include the annual costs for practice management software (about $200 per physician per month, totaling $7,200) and another $800 for computer hardware costs. Outsourced: This cost reflects the cost of operating the computer and printer (say, $500 per year) that the independent practice would have to bear to keep communicating with the third-party billing service or print important documents.

Direct claim processing costs

In-house: This cost covers the clearing house fees for doing billing in-house, which is approximately $375 per month (for four physicians) or $4,500 per year. Outsourced: Third-party medical billing service providers usually charge a percentage of the collected claims amount as their fees. The industry average is seven percent.



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Phone: (313) 575-8155

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