The Price of Cash Crunch to Cash Flow
Set-up Fee. In some cases iMAX requires a set-up fee that is well below the national average of $10,000. There are multiple variables that make up the set-up fee including whether EHR is included, the type of practice, the number of providers, the number of office staff to train, and the complexity of the billing.
Billing Services Fee. iMAX charges a percentage of the provider’s total revenue from insurance and patient payments. In many cases, the percentage ranges between 5% and 7%. The percentage is based on the provider’s claim volume, reimbursement amount, complexity of coding, efficiency of the provider’s data collection process, and whether iMAX is responsible for patient statements and calls, account receivable follow-up, and denial management.