Financial Medical Partnership

The Cost of DIY Medical Billing


22 Oct 2013 by Mark Reeves

It is widely accepted in the healthcare industry that it’s more cost-efficient to outsource medical billing, than to do it in-house. 

In an article by Independent Practitioner Today published last year, it was calculated that DIY billing costs practices around 10% of annual turnover.  The worked example demonstrated that a medical practice with a turnover of £150,000 spends £15,150 on billing each year. 

Here are some of the expenses involved:

Time - how much time is spent on invoicing, receiving monies, chasing payments, and debt recovery each week in your practice?

Postage - Royal Mail prices keep on rising, in 2013 we saw a 30% increase.  The cost of first-class stamp is 60p.  If you post 10 bills per week, that’s £312 per year.

Stationary - Paper, envelopes, printer ink, it all adds up.

Telephone calls - chasing late payers, trying to resolve invoice queries can mean a lot of time on the telephone.

You can outsource billing to FMP from just £5 per invoice and reduce bad debt with our collection solutions.  Call us on 0845 846 0036 to discuss your requirements.

Click here to contact us

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FMP P.O. Box 1487, Surbiton, KT1 9RB, England, Company No. 03066638                
Tel 0208 398 9555