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Cost Savings Calculator
 

Instructions

  • Use this calculator to estimate your current monthly Revenue-Management labor costs
  • Just answer each question and enter the time or hourly rate for each task.
  • To enter part of an hour: 15 minutes = .25, 30 minutes = .5 and 45 minutes = .75
  • Your current monthly Revenue-Management labor costs will be shown below
CREATING REPORTS
     
How many reports do you create in a month? Include reports on zero paid claims, claims denied at payer, etc.    
How many hours does it take, on average, to generate each one of those reports?     
Average time (in hours) to generate reports each month    
Average hourly salary     
Your monthly cost to manually generate reports    
       
TIMELY FILING LETTERS
     
How many timely filing letters, on average do you write each month?    
How many hours does it take, on average, to compile the information for one timely filing letter    
Average time (in hours) to create timely filing letters each month    
Average hourly salary    
Your monthly cost to create timely filing letters    
       
MATCHING ERAs TO CLAIMS      
How many hours per month do your employees spend matching ERA information to your claims    
Average hourly salary    
Your monthly cost to match payments to claims    
       
WRITING APPEAL LETTERS
     
How many appeal letters, on average, do you write a month?    
How many hours, on average, does it take to write one appeal letter?    
Average time (in hours) spent monthly to write appeal letters    
Average hourly salary    
Your monthly cost to write appeal letters    
       
REJECTED CLAIMS
     
How many claims, on average, are rejected at your clearinghouse each month?    
How many hours does it take to research, correct, and resubmit one claim rejected at the clearinghouse?    
Average time (in hours) spent correcting claims rejected at the clearinghouse    
Average hourly salary    
Your monthly cost to resubmit claims rejected at clearinghouse    
       
CURRENT LABOR COSTS FOR SELECTED REVENUE CYCLE MANAGEMENT FUNCTIONS    
 


 

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