The Price of Cash Crunch to Cash Flow
Set-up Fee. In most cases iMAX Medical Billing requires a set-up fee that is well below the national average of $10,000. There are multiple variables that make up the set-up fee including whether EHR training is needed, the type of practice, the number of providers, the number of office staff to train, and the complexity of the billing.
Billing Services Fee. iMAX Medical Billing charges a percentage of the provider’s total revenue from insurance and patient payments. In many cases, the percentage ranges between 5% and 7%. The percentage is based on the provider’s claim volume, reimbursement amount, complexity of coding, efficiency of the provider’s data collection process, and whether iMAX Medical Billing is responsible for patient statements and patient calls, account receivable follow-up, and denial management.