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Healthcare Professionals – How Would You Like to Increase your Net Income?
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Medical Economics reported in May 2016 in an article titled “Administrative Costs Are Killing US Healthcare” that “The U.S. devotes a larger percentage of its healthcare economy to administration (doing things like moving a claim through the system…) than any other country.”

I’d like to zero in on what you’re paying just to get paid for the services you’ve provided. I call it the Administrative Cost Monster (ACM). I can guarantee that the ACM is eating up too much of your hard earned revenue. Let me break it down for you:

Description In-House Fore-ward Healthcare Solutions
Billing Staff Salaries (assuming 2 FTE) $80,000 $38,400
% of Billings Collected 70% 90%
Billing Staff Costs (taxes, training, etc.) $23,000 $0
Total Billing Costs $103,000 $38,400
Amount Billed Per Year $1,000,000 $1,000,000
Amount Collected $700,000 $900,000

In the billings costs noted in the table, I am assuming a salary of $40,000 for each biller. The billing staff costs include taxes and training costs of $2,000 per FTE. I’m not including other costs such as space, office supplies, vacations, and benefits.

These are real numbers. In the example above, we are collecting $200,000 more for you at a cost of $38,400 (assuming 2 FTE) versus your costs of $103,000.

With us, in this example, $200,000 more is collected with administrative savings of $64,600. It just makes sense. Give us a call and explore what we can do for you. Don’t let the ACM eat up your profits.

Glenda Hill, MBA

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glenda.hill@forewardhealthcare.com

877-327-5284 extension 1