how much can i make?
We recommend charging a percentage of collections for your services. This way you are creating a mutually profitable relationship with your doctor, and this provides them peace of mind. They know you’ll do everything in your power to get them paid as much as possible because your income will be dependent upon theirs. In some cases, you may also charge per claim. With the traditional percentage method, our licensees often charge between 6%-8%. An average doctor’s office generates about $50,000 per month for their practice. So, if you charge 6% of $50,000 per month that would generate $3,000 per month in billing fees for your company, or $36,000 per year. You can see it would only take a few similar sized clients to be doing quite well with your medical billing business.
Medical billers often service between 1 to 10 average doctors without hiring any employees. Beyond 10, they may need to hire an employee to help. This is especially important to consider for billers who are offering full practice management, because with 10 average-size providers, there is plenty of work to occupy you full time. Some ClaimTek licensees take just as many accounts as they can handle on their own, while most will eventually hire billers and scale up. Some have grown to handle hundreds of accounts!
In addition to medical and dental billing, there are about a dozen ancillary practice management services that can be offered through ClaimTek. Each service is essentially a business on its own. These ancillary services do not require much time or effort for our licensees to deliver but they are each another stream of revenue.
ClaimTek licensees typically fall into one of three main categories for how they operate their business:
[ $150k-$250k \ Year ] Avarage profit over the first three years
The Licensee is the sole owner operator for their business, or they may work with a family member or business partner. With this setup there is no responsibility to manage or compensate employees so it’s a lean and lucrative business model.
| Team Manager|
[ $150k-$500k \ Year ] Avarage profit over the first three years
With this setup, the Licensee will manage a small team of 1-5 employees. The Licensee will often still be involved with marketing and management, but not as much with day-to-day operations, focusing more on business growth.
| Enterprise Level
[ $250k-$1M+ \ Year ] Avarage profit over the first three years
At this level, the Licensee will function as a true CEO. They will give their 5+ employees “big picture” direction and manage their team’s performance, but will not typically be involved in core operations. Top performing Licensees have grown their business to service hundreds of clients.
About 75% of our Licensees start their business part-time with the Owner-Operator model, while some start full-time at each level. Most Licensees reach the Team Manager or Enterprise Level by the end of year 2. Some choose to simply maintain their business from there, while others will continue to grow and scale up.