billing service percentage

[radnater Participant Status: Physician Posts: 16 Joined: 12/08/2018]

Was wondering what others are paying for a billing service (especially for radiology) as in a percentage of revenue collected.

Currently we are paying ~6-8% revenue collected for our billing service. We share billing specialists with a local surgeons practice which has been beneficial for both of our groups and was wondering how this compares to others. We are a rural location, so there’s essentially no other local billing services available.

thanks.

[jacoavlu Moderator Status: Physician, Small Business Owner Posts: 1701 Joined: 03/01/2018]

I’ve heard from 6-10%. Toward the higher end may come with additional services beyond simply billing-collections. Practice management functions. MIPS/MACRA/PQRS. Etc.

Just as important is the percentage of gross charges actually being collected. It makes more sense to pay 9% and collect at 55% than to pay 7% and collect at 45%.

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