Best Medical Practice Management Solutions in Hawaii
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How Much Does Medical Billing Cost in Hawaii?
The cost of medical billing in Hawaii can vary depending on the size and type of practice, as well as the location. Medical billing services in Hawaii typically charge between 4.5% and 9.2% of the collected revenue per claim, or a flat monthly fee ranging from $500 to $3,500, depending on the practice size and patient volume. For larger practices, the cost of medical billing may be much higher.
There are some factors that will affect the cost of medical billing in Hawaii. The first is the size of the practice. The larger the practice, the more staff they will need to handle the increased volume of work. This will result in a higher hourly rate or monthly fee. Another factor that affects the cost of medical billing in Hawaii is the type of practice. As of 2024, Hawaii’s population is estimated at 1,446,146, with 4.0% of individuals under age 65 lacking health insurance. The state allocates approximately 16.5% of its budget to Medicaid expenses, reflecting its commitment to healthcare accessibility. Practices that see a high volume of patients, such as urgent care centers or ERs, will typically have higher fees than those that see fewer patients. This is because they will need to bill for more services and will have a higher volume of claims. According to the 2024 Hawai’i Healthcare Workforce Initiative Report, the demand for healthcare professionals continues to grow due to an aging population, despite recent increases in the supply of workers through training initiatives.
Start-up Fees:
The cost of start-up fees to use medical billing services in Hawaii can vary depending on the size and type of practice, as well as the location. Generally, medical billing services in Hawaii charge between $50 and $200 per hour. Some practices may also be charged a flat rate per month, which can range from $500 to $2,000. For larger practices, the cost of medical billing may be much higher.
Recurring Fees:
There may also be recurring fees associated with using medical billing services in Hawaii. Recurring monthly fees for medical billing services in Hawaii vary based on practice size, typically ranging from $1,500 to $3,500 for medium to large practices. Some companies may also charge a one-time setup fee, which can range from $500 to $2,000.
One-Time Fees:
There may be some one-time fees associated with using medical billing services in Hawaii. These can include set up fees, training fees, and software fees. Set-up fees for medical billing services in Hawaii typically average around $300 per provider, with larger practices potentially incurring fees up to $1,500. Training fees are also usually charged by the hour, and can range from $50 to $100. Software fees for medical billing systems can vary widely, starting at approximately $65 per month for basic features and reaching up to $599 per month for advanced functionalities.
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Top Medical Practice Management Company in Hawaii
TeamPraxis
711 Kapiolani Blvd Suite 500, Honolulu, HI 96813 | +1 808 941 3363
TeamPraxis is a trusted back-office solutions provider that empowers healthcare professionals to focus on delivering excellent care for their patients. Read more of our review on our top choice for the best medical practice management services in Honolulu.
Medical Billing Companies in Honolulu
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Hawaii Zip Codes Where We Provide Medical Practice Management Service
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