Fruition Billing can be tailored to your unique business needs. Please review each billing rate listed below and decide what option(s) will best fit your business needs.
Contact Fruition Billing to discuss your free 45 day trial. No contract until after your 45 day trial. We also beat or match any local competitor pricing!
Fruition Billing uses a therapy software called Simple Practice which is fully HIPAA compliant. Once we get started, Fruition Billing will begin training your team of clinicians or front off staff on how to use Simple Practice. This software allows your clinicians to manage and schedule their own therapy sessions and document therapy notes which in turn assists Fruition Billing to efficiently process your billing faster and achieve results the first time!
Start up costs:
- Depending on your practice size, start up costs may vary. Integration of new clients from your old software company takes time and can be a tedious process. Fruition Billing also wants to ensure it is done right the first time. Checking patient information after integration will be crucial before the billing process starts. This is why a 45 day trial is important. We want to ensure your return on investment is suffice.
TYPES OF PRICING
Percentage Pricing by net income:
- Percentage pricing is the most common pricing structure that Fruition Billing offers. It’s usually calculated according to one of these:
- Percentage of collections: In pricing per percentage of collections, Fruition Billing bases the fee on the net amount received for the claims for which we have directly collected for the month.
- This means that as your billing company, we will be responsible for following through the full collections process until all payments are complete. This means even collecting from your clients.: co-pays, coinsurance and deductible amounts. Not just the health insurance companies that we will collect from.
- For example, if we charge 7% of collections, and we have actually collected $20,000 for a certain client for that month, then the price for your services for that month would be 7% of $20,000, or $1,400.
Again, the important thing to remember about this type of pricing is that you only pay us, once we collect the clients money.
Percentage Pricing by gross income:
In pricing per percentage of gross claims submitted by Fruition Billing, we charge you a percentage of the total amount of claims submitted to the insurance.
Unlike charging a percentage of collections, which relies on actually getting your claims paid, charging per gross claim submitted means Fruition Billing collects simply by sending claims for your business whether they are paid or not.
- For example, if we charge 4% of all gross claims submitted, and we have submitted $30,000 worth of claims for your office for that month, then your price for that month would be $1,200.
- Don’t worry, this also means that Fruition Billing is fully prepared to handle a large amount of claims to make your cut profitable, and that we have an additional agreement in place with your office about following up on unpaid claims or appeals if needed or applicable. Which we know will take additional time and resources.
Each percentage pricing system requires a different level of follow-up to make sure your business is still running smoothly and efficiently.
Flat Fee Pricing:
With flat fee pricing, Fruition Billing will get paid per claim submitted regardless of the size. This means that we will charge a specific fee for each claim we send to the insurance company. It also means that we follow up on all claims until they are paid in full.
For example, if we charge $1.00 per claim, and we send 1,500 claims that month, then we would charge your office $1,500 for that month’s billing.
It seems like a simple approach, but can be complicated if your office produces more than 400 claims in a month, so this option is preferred for businesses who do business with less than 400 claims in a month.
This option is also preferred for businesses who have less complex claims for follow-up and appeals. Each of your claims should take less than 30 to 60 minutes of time spent processing, following up and collecting.
- For example, if Fruition Billing charges $1.00 per claim submitted, and we submit 1,500 claims, like the example above, and all of the claims are very complex and require a lot of follow-up and appeals work, then the $1.00 charge may not be enough to cover all of the work that we have to do to get those claims paid in full.
**A flat fee doesn’t take into account the amount of time spent following up with doctors, insurance companies and clients. Please keep this in mind if this is an option that you are looking into.
Contact Fruition Billing to discuss your free 45 day trial, no contract until after your 45 day trial. We also beat or match any local competitor pricing!
