Guest guest Posted January 13, 2007 Report Share Posted January 13, 2007 Hi -So I think I'm calculating 78.56 per patient encounter last year. Is that right? What percentage of your visits are "nurse visits?" (I don't have those.) I did count flu shots in my encounters, if they visited just for the shot - I can pull that stat, suspect I had only about 3-40 encounters for vaccines alone, plus 10 HPV alone encounters or so. Group,Following ’s lead, here are my numbers for 2006.Date opened: 4/28/2003Total invoices: 3049Total billed: $346,949Average billed: $113.79Total number of payments: 5753Total payments: $239,526Adjustments: $99,693 (difference is accounts receivable)Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%.Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 13, 2007 Report Share Posted January 13, 2007 Hi , While I ponder whether to be inspired, move to New Zealand or just commit suicide…. Remind me, are you totally solo/solo? I have a little bit of part time help, but I don’t see how I could see that volume without more. For comparison: You had going on 3 times the number of visits I had, collected about twice as much in total payments and were able to pay yourself almost 4 times what I was, assuming that salary number is just YOUR salary. Then if I did the math right, your overhead (except your salary) was about $127K, to my $93K and your average collection per encounter was about $80 to my $94 and ’s (I think) $114. And all that ON TOP of your marvelous contributions to IMPnation: all your thoughtful posts and the great PowerPoint you did,etc,etc… ...If it weren’t pouring buckets of rain out there I’d go ride my horse..and it’s too early to start drinking…I think I’ll go bake some bread…. Annie 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 13, 2007 Report Share Posted January 13, 2007 My guess is that I probably only average 1-2 nurse visits a week and most of the others were associated with the flu of which we gave 350 this year (some had an appointment, many did not). The 78.56 per invoice is about right. Re: 2006 Numbers Hi - So I think I'm calculating 78.56 per patient encounter last year. Is that right? What percentage of your visits are " nurse visits? " (I don't have those.) I did count flu shots in my encounters, if they visited just for the shot - I can pull that stat, suspect I had only about 3-40 encounters for vaccines alone, plus 10 HPV alone encounters or so. Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 13, 2007 Report Share Posted January 13, 2007 Annie, You’re very sweet. I do have one full time nurse who works on M, T, Th, and F from 8 am to about 5:30 or so pm. My wife is forced into unpaid labor on Wednesday am and I take an administrative ½ day on Wednesday pm, which usually means I get a little billing done and spend the rest of the time answering the phones (not really efficient but I’m working on that part). Although my wife is itching to get fired, I haven’t been able to fine anyone to work for her pay J. I try not to get too hung up on the reimbursement because I too would become depressed. My hope is that over the next couple of years, the IMP movement will figure out a solution to that part of the puzzle (I’m sure many of the truly brilliant minds are crafting solutions right now). I’m thankful for my salary, but I’m still way below the “average” FP nationally and locally. That’s the real rub so far with the movement. Nearly all of us have traded salary for quality (personal and professional). We have done so voluntarily for various reasons, but I think most of us are simply idealists who are compelled to make the terrible state of medicine better in our own way. Unfortunately, this one problem prevents any significant advance in stabilizing the primary care network in this country. But, the wonderful thing about chaos is that times are ripe for change. Hopefully that will come soon! 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 14, 2007 Report Share Posted January 14, 2007 Hi , Thanks for the encouragement. I am happy to be under average, as my consumer habits are likewise. I managed to not set foot in the mall ever in 2006. My sustainable living Sunday school class gives me the impression that this is an accomplishment, but I’m not so sure. I think they just like my cooking.. Anyway, you keep plugging along and serve as a beacon for the rest of us. I promise not to do myself harm if you promise to keep posting. Annie PS, the bread is fabulous! Wish you were here to share… 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 14, 2007 Report Share Posted January 14, 2007 Bring the recipe to the IMP Camp. I’m sure will let you cook for us! JOhn 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 14, 2007 Report Share Posted January 14, 2007 Please do bring your bread recipies, but I’ll warn you that baking at altitude has its challenges (usually tastes good, but harder to keep from collapsing) A. Eads, M.D. Pinnacle Family Medicine, PLLC phone fax P.O. Box 7275 Woodland Park, CO 80863 From: [mailto: ] On Behalf Of Brady, MD Sent: Sunday, January 14, 2007 5:10 AM To: Subject: RE: 2006 Numbers Bring the recipe to the IMP Camp. I’m sure will let you cook for us! JOhn -----Original Message----- From: [mailto: ] On Behalf Of Annie Skaggs Sent: Saturday, January 13, 2007 10:46 PM To: Subject: RE: 2006 Numbers Hi , Thanks for the encouragement. I am happy to be under average, as my consumer habits are likewise. I managed to not set foot in the mall ever in 2006. My sustainable living Sunday school class gives me the impression that this is an accomplishment, but I’m not so sure. I think they just like my cooking.. Anyway, you keep plugging along and serve as a beacon for the rest of us. I promise not to do myself harm if you promise to keep posting. Annie PS, the bread is fabulous! Wish you were here to share… -----Original Message----- From: [mailto: ] On Behalf Of Brady, MD Sent: Saturday, January 13, 2007 4:28 PM To: Subject: RE: 2006 Numbers Annie, You’re very sweet. I do have one full time nurse who works on M, T, Th, and F from 8 am to about 5:30 or so pm. My wife is forced into unpaid labor on Wednesday am and I take an administrative ½ day on Wednesday pm, which usually means I get a little billing done and spend the rest of the time answering the phones (not really efficient but I’m working on that part). Although my wife is itching to get fired, I haven’t been able to fine anyone to work for her pay J. I try not to get too hung up on the reimbursement because I too would become depressed. My hope is that over the next couple of years, the IMP movement will figure out a solution to that part of the puzzle (I’m sure many of the truly brilliant minds are crafting solutions right now). I’m thankful for my salary, but I’m still way below the “average” FP nationally and locally. That’s the real rub so far with the movement. Nearly all of us have traded salary for quality (personal and professional). We have done so voluntarily for various reasons, but I think most of us are simply idealists who are compelled to make the terrible state of medicine better in our own way. Unfortunately, this one problem prevents any significant advance in stabilizing the primary care network in this country. But, the wonderful thing about chaos is that times are ripe for change. Hopefully that will come soon! -----Original Message----- From: [mailto: ] On Behalf Of Annie Skaggs Sent: Saturday, January 13, 2007 12:45 PM To: Subject: RE: 2006 Numbers Hi , While I ponder whether to be inspired, move to New Zealand or just commit suicide…. Remind me, are you totally solo/solo? I have a little bit of part time help, but I don’t see how I could see that volume without more. For comparison: You had going on 3 times the number of visits I had, collected about twice as much in total payments and were able to pay yourself almost 4 times what I was, assuming that salary number is just YOUR salary. Then if I did the math right, your overhead (except your salary) was about $127K, to my $93K and your average collection per encounter was about $80 to my $94 and ’s (I think) $114. And all that ON TOP of your marvelous contributions to IMPnation: all your thoughtful posts and the great PowerPoint you did,etc,etc… ...If it weren’t pouring buckets of rain out there I’d go ride my horse..and it’s too early to start drinking…I think I’ll go bake some bread…. Annie -----Original Message----- From: [mailto: ] On Behalf Of Brady, MD Sent: Saturday, January 13, 2007 11:55 AM To: / Subject: 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 14, 2007 Report Share Posted January 14, 2007 If you can’t bake on mountains, what CAN you do? And what sort of altitude are we talking about? I was thinking that I probably won’t be able to afford a trip to camp this year, but the challenge has me intrigued. After all, I have clearly shown that all you have to do to make me knock myself senseless trying to do something is to tell me it can’t be done! ;-> Is it the lower pressure that causes gasses to expand beyond the capacity of the dough to hold together? Seems like if you add more gluten and reduce the yeast you should be able to get around that…..but what do I know? I’ve only ever cooked at sea level or pretty close to it.. How do pies do? No rising called for there. Golly, all this thinking about food is making me hungry! Anyway, IF by June I can afford to be away from the office and have managed to save a little money, I would love to come to camp. I’ve never been to Colorado. I will keep you posted, and if I come I will bring some recipes, and would love to feed the masses. My first job (aside from teaching riding lessons) was at a bakery and caterer and every once in a while I get a hankering to cook A LOT of food again. Annie 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 15, 2007 Report Share Posted January 15, 2007 : This may not be something you want to share, but I wonder what your payments were after the first year? And after the second? I am trying to do some predicting to help “prove” my model can be viable to the folks at TransforMed. After one year, my payments were about 1/4th of what you show for 2006. I have just finally cracked the 20 visits per week mark (consistently) in the last 2 months. I am being asked to make predictions (which seems impossible), but if I had another IMP’s early numbers it might help. Thank you, Ramona Seidel, M.D. From: [mailto: ] On Behalf Of Brady, MD Sent: Saturday, January 13, 2007 11:55 AM To: Subject: 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 15, 2007 Report Share Posted January 15, 2007 RE predictions Just look at your week to week growth trends Figure out how much money is coming in per month. Match your monthly cash with your volume, to figure an average reimbursement per visit Contact me off list if you don't follow Dr Matt Levin RE: 2006 Numbers : This may not be something you want to share, but I wonder what your payments were after the first year? And after the second? I am trying to do some predicting to help “prove” my model can be viable to the folks at TransforMed. After one year, my payments were about 1/4th of what you show for 2006. I have just finally cracked the 20 visits per week mark (consistently) in the last 2 months. I am being asked to make predictions (which seems impossible), but if I had another IMP’s early numbers it might help. Thank you, Ramona Seidel, M.D. From: [mailto: ] On Behalf Of Brady, MDSent: Saturday, January 13, 2007 11:55 AMTo: Subject: 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 15, 2007 Report Share Posted January 15, 2007 Thanks. I can do all this, and have done some of this already. The real issue is that I am having a hard time “proving” the viability of what I am doing to the TFM staff. So, I thought if others had similar #’s to mine at one year from starting, it might help me “prove’ myself to them! Ramona From: [mailto: ] On Behalf Of Levin Sent: Sunday, January 14, 2007 10:18 PM To: Subject: Re: 2006 Numbers RE predictions Just look at your week to week growth trends Figure out how much money is coming in per month. Match your monthly cash with your volume, to figure an average reimbursement per visit Contact me off list if you don't follow Dr Matt Levin 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 15, 2007 Report Share Posted January 15, 2007 Ramona, If you go to my website (www.thevillagedr.com), I have an excel spreadsheet in the practice development section with the payments for the first 2+ years of my practice broken down by month. Hopefully, that is what you are looking for. Let me know if you need more information. 2006 Numbers Group, Following ’s lead, here are my numbers for 2006. Date opened: 4/28/2003 Total invoices: 3049 Total billed: $346,949 Average billed: $113.79 Total number of payments: 5753 Total payments: $239,526 Adjustments: $99,693 (difference is accounts receivable) Salary: $112,509 Comments: 1) Invoices include flu shots and nurse visits, so technically I did not “see” 3000 patients last year, probably closer to 2750. 2) Average billed is high, but the majority of visits are physicals or 99214s. I do some procedures (strep tests, skin stuff) that boost this number. My fee schedule is based on the highest reimbursing insurance in the area. 3) As most people have copays or deductibles, the total number of payments does reflect way more than the total number of invoices, which is just a reminder of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which approximates the fact that Medicare and most other insurances in this area pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking at my population, there are very few people who have the highest paying insurance. 5) My salary represents only 47% of expenses, but that number is a bit misleading. I pay health insurance through the company (so that is not considered part of my salary, but is a rather large expense). I am also paying a fair amount in loans. Hopefully those will get paid off over the next year or two and my salary as a percent of revenue will increase to around 60%. Goals for next year (not in any particular order): 1) Work on improving my chronic disease management. 2) Close to new patients (currently have 1300 active patients), and augment income to the practice through the newly acquired aesthetic machine. 3) Continue to spread the work about the IMP movement locally and (perhaps) nationally. 4) Continue to be able to balance work and family and 5) continue to learn from you guys! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 15, 2007 Report Share Posted January 15, 2007 Absolutely! Ramona From: [mailto: ] On Behalf Of l_spikol Sent: Monday, January 15, 2007 11:05 AM To: Subject: Re: 2006 Numbers Ramona-I'm assuming you are still open to new patients? Is this correct? > > Thanks. > > > > I can do all this, and have done some of this already. The real issue is > that I am having a hard time " proving " the viability of what I am doing to > the TFM staff. So, I thought if others had similar #'s to mine at one year > from starting, it might help me " prove' myself to them! > > Ramona > > > > _____ > > From: > [mailto: ] On Behalf Of Levin > Sent: Sunday, January 14, 2007 10:18 PM > To: > Subject: Re: 2006 Numbers > > > > RE predictions > > > > Just look at your week to week growth trends > > > > Figure out how much money is coming in per month. > > Match your monthly cash with your volume, to figure an average reimbursement > per visit > > > > Contact me off list if you don't follow > > > > Dr Matt Levin > > > > 2006 Numbers > > Group, > > Following 's lead, here are my numbers for 2006. > > Date opened: 4/28/2003 > > Total invoices: 3049 > > Total billed: $346,949 > > Average billed: $113.79 > > Total number of payments: 5753 > > Total payments: $239,526 > > Adjustments: $99,693 (difference is accounts receivable) > > Salary: $112,509 > > Comments: 1) Invoices include flu shots and nurse visits, so technically I > did not " see " 3000 patients last year, probably closer to 2750. 2) Average > billed is high, but the majority of visits are physicals or 99214s. I do > some procedures (strep tests, skin stuff) that boost this number. My fee > schedule is based on the highest reimbursing insurance in the area. 3) As > most people have copays or deductibles, the total number of payments does > reflect way more than the total number of invoices, which is just a reminder > of how crazy and chaotic this system is. 4) Adjustments are at 28.7% which > approximates the fact that Medicare and most other insurances in this area > pay about 70% of the top paying insurance. Medicaid pays about 50%. Looking > at my population, there are very few people who have the highest paying > insurance. 5) My salary represents only 47% of expenses, but that number is > a bit misleading. I pay health insurance through the company (so that is not > considered part of my salary, but is a rather large expense). I am also > paying a fair amount in loans. Hopefully those will get paid off over the > next year or two and my salary as a percent of revenue will increase to > around 60%. > > Goals for next year (not in any particular order): 1) Work on improving my > chronic disease management. 2) Close to new patients (currently have 1300 > active patients), and augment income to the practice through the newly > acquired aesthetic machine. 3) Continue to spread the work about the IMP > movement locally and (perhaps) nationally. 4) Continue to be able to balance > work and family and 5) continue to learn from you guys! > > > Quote Link to comment Share on other sites More sharing options...
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