Average Billed vs Collection

[IDKwhattodoyet]

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Curious about everyone's experience. What's the average percentage of collection when compared to how much is billed in privet practice setting? I understand that this can vary tremendously on what rate you're billing but what are some good ball park numbers?

 

[knoxdoc]

0.358 of billing was collected over last 6 months. I'm in a large ortho clinic with no control over collections.

 

[runfastnow]

Anywhere from 32-40% Averages to same as above. Medium sized ortho clinic.

 

[IDKwhattodoyet]

0.358 of billing was collected over last 6 months. I'm in a large ortho clinic with no control over collections.

Anywhere from 32-40% Averages to same as above. Medium sized ortho clinic

Okay good to know. Ours was around 27%. It just seems outrageously low. I guess its just "slightly" low. Thank you

 

[nvrsumr]

It’s an artificial number. Bill as high as you want.

 

[runfastnow]

Okay good to know. Ours was around 27%. It just seems outrageously low. I guess its just "slightly" low. Thank you

Depends on your charges though. We billed 3x Medicare for a while and collections ~37-40%. Increased our charges some and now on that lower end range 32-35%.

27% not out of question if you're in a 4x (or more) Medicare charge practice.

 

[Gnarvin]

Yes, the percentage collected vs. billed can be very misleading. As everyone above has mentioned, the practice will bill a multiple over what they realistically think they will collect. I would maybe start to be concerned if your percentage of collections vs. billed is significantly lower than someone in your same position at the same practice.

I would be more concerned about the actual collections vs. the work you did. For example, what are you collecting on average for a 62323, 99214, etc.

 

[gdub25]

Agree with Gnarvin, literally the only thing that you can look at with billed charges versus collections would be trends over time within your own practice. Asking other people what percentage they are collecting is useless because what each of us bills is completely arbitrary.