|
Cost Comparison Based on 300k Collectable Monies |
| |
30 Day Average Costs |
5-In House Billers |
Quality Billing Solutions |
| |
|
|
|
| |
Salary ($12.00/hr) |
$10,320.00 |
$0.00 |
| |
Taxes, SUI, SDI, FICA, W/C, etc. (21%) |
$2,476.80 |
$0.00 |
| |
Benefits (Health Insurance, etc.) |
$1,250.00 |
$0.00 |
| |
Vacation Pay (1 Week) |
$200.00 |
$0.00 |
| |
Sick Pay (1 Week) |
$200.00 |
$0.00 |
| |
Office |
$1,375.00 |
$0.00 |
| |
Phone |
$1,250.00 |
$0.00 |
| |
Overhead |
$750.00 |
$0.00 |
| |
Statements |
$3,000.00 |
$0.00 |
| |
Envelopes |
$1,000.00 |
$0.00 |
| |
Forms |
$500.00 |
$0.00 |
| |
Postage |
$3,000.00 |
$0.00 |
| |
Management |
$1,200.00 |
$0.00 |
| |
Training |
$1,000.00 |
$0.00 |
| |
Software Support |
$500.00 |
$0.00 |
| |
Software Updates |
$500.00 |
$0.00 |
| |
Electronic Filing |
$2,000.00 |
$0.00 |
| |
Cost of Rejected Claims (4% of 300k) |
$12,000.00 |
$0.00 |
| |
Cost of Accounts Receivable (3% of 300k collected) |
$9,000.00 |
$0.00 |
| |
Cost of Employee Turnover (10% of Salaries) |
$1,032.00 |
$0.00 |
|
|
| |
Monthly Expense |
$52,553.80 |
$30,000 based on 10% of
Collections |
| |
Annual Expense |
$630,645.60 |
$300,000.00 |
|
| |
| |
Monthly Savings with Quality Billing Solutions |
$27,553.80 |
| |
|
|
| |
Annual Savings with Quality Billing Solutions |
$330,645.60 |
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