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Billing Benchmarks
How many billing staff do I need?
Question: How many billing staff do I need?
Answer: Here is what Physicians Practice recommends for billing staffing, by claims volume:
- Billing full-time employees (FTEs) per 100,000 claims: 10.45. (Claims are the basic work unit of a billing staff member, just like work RVUs are for a provider.)
- Payment posting/cash management FTEs per 100,000 claims: 1.9
- Credit resolution FTEs per 100,000 claims: 0.4
- Insurance denial and follow-up FTEs per 100,000 claims: 3.1
- Patient follow-up and inquiry FTEs per 100,000 claims: 1.8
One biller per 10,000 claims may seem a bit low, but if the claims are clean, then no billing staff intervention is needed at all. Therefore, the ratio is not just a reflection of how good the biller is, but how good the process is.
A biller is defined as anyone who touches the process from the time a charge becomes a claim until the claim is fully paid.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
