Revenue Cycle Management

Willis & Willis will help make your revenue cycle management process more efficient and profitable. Whether your challenge is in charge entry, coding, claims submission & appeals or patient billing & collections – let us show you how partnering can save your practice time and money.

Here a few of the costs we can help reduce in your practice:

  • Payroll expense
  • Employee Health Insurance Expense
  • Necessary Continued Education Expense
  • Postage and Electronic Claims Submission Expense
  • Time Expense
  • Employee turnover and Personnel Issues

This table shows these benefits in a 2 provider practice with 2 medical billing employees.

Annual Revenue Cycle Cost Comparison

In-House RCM CostsOutsource RCM Costs
Salary (2 employees @ $14.50/hour)$60,000N/A
Payroll Taxes (2 employees)$9,000N/A
Benefits (2 employees)$15,000N/A
Administrative Cost (accounting, payroll, office equip, etc.)$15,000$4,000
Claim Processing Cost ($120/provider/month)$2,880N/A
Annual Gross Charges (2 Physicians)$1,300,000$1,300,000
Gross Collection Rate*60%70%
Annual Net Receipts$780,000$910,000**
Outsourced RCM Costs (7% of net receipts)N/A$63,700
Total Cost of Collections$101,880$67,700
Collections Minus Costs$678,320$842,300

* – Gross collection rate does not take into account contractual adjustments (Medicare, Medicaid, UHC etc.)
** – Industry studies show that utilizing an outsource RCM service typically increase net receipts by 5-15%. We used 10% in this example. Actual results will vary.