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- 2701 taft blvd wichita falls TX 78208
- Medical Billing Full Time Employee Charges - $11/hour
The cost analysis primarily reflects the total expenses incurred for in-house billing in a solo practice. We have conducted a comparative assessment of the costs associated with maintaining an in-house biller versus hiring a billing expert from RCM Experts. Additionally, you can easily calculate your real-time cost to make an informed decision.
| In-House Billing Solo Practice | Monthly In-House Cost | RCM Experts Billing & Audit Cost |
|---|---|---|
| Employee Salary (per month) $16.50 per hour × 40 hours per week = $660 $660 × 52 weeks = $34,320 $34,320 ÷ 12 months = $2,860 $2,860 = One month gross pay |
$2,860.00 | Employee Salary (per employee)
$11 per hour × 40 hours per week = $440 $440 × 52 weeks = $22,880 $22,880 ÷ 12 months = $1,906 $1,906 = One month gross pay |
| Medical Benefits
Average PPO plan $545.00 (50% Employer’s portion of dues) |
$272.50 | NONE |
| Sick Leave | $66.00 | NONE |
| Vacation Leave | $55.00 | NONE |
| Retirement Plan Simple IRA | $85.80 | NONE |
| Workers Compensation | $27.17 | NONE |
| Payroll Taxes (estimated) | $219.16 | NONE |
| Practice Management Software | $300.00 | INCLUDED |
| Electronic Claims Submission Fee | $35.00 | INCLUDED |
| Paper Claims (Supplies & Postage) | $40.80 | INCLUDED |
| Patient Statements (Supplies & Postage) | $36.50 | INCLUDED |
| Total Cost Per Month | $3,997.93 | $1,906.00 |
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