2006 Numbers

[Guest guest]

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!