Psychiatry Compensation vs Collections

[childay]

This is mostly a question for employed inpatient or in/outpatient psychiatrists.  Other specialties welcome to comment of course.

Assuming you know, how much difference is there between your total compensation vs. the collections from your charges?  Essentially, how much of a premium are you paid for inpatient work, vs collections.

[FIREshrink]

Collections or charges?

I am paid a straight fee per work RVU billed regardless of collections, and it's the same inpatient or outpatient. No RVU = no pay, which is why being on call is not paid in our system. However, any RVU generating work on call is paid, the same as any other RVU generating work.

[Adrian]

There are many models out there.

Inpatient is more complicated.  Collections from charges for inpatient work is sometimes less than an employed physican salary. Hospital is basically losing money on Part B but more than compensate on part A revenue. I doubt the hospital is giving you access to the collections number. The charges is easy to figure out from the wRVU you produced, but the collections for those charges varies between 30% and 50%. That is because often times the hospital charges double or more what they expect to collect, also you have a lot of uninsured patients (you bill wRVU but they are not going anywhere, hospital eats the bill) and so forth.

 

[childay]

Adrian wrote:

Hospital is basically losing money on Part B but more than compensate on part A revenue.

Click to expand...

Right, that is the situation.  I do have the collections numbers.  Hospital consultant now claiming my compensation should be closer to the collections..

[childay]

According to this MGMA survey, this seems to be common across specialties for employed physicians

http://www.mgma.com/Libraries/Assets/Practice%20Resources/Publications/MGMA%20Connexion/2012/Data-Mine-Why-hospital-owned-medical-groups-lose-money---MGMA-Connexion-magazine-April-2012.pdf

 

[wideopenspaces]

Time to look for a new job? Don't most hospitals lose money on psychiatric care? It's not your job to get your patients to pay the bill so I'm not sure why you're being blamed for the collections . . .

[FIREshrink]

My inpatient psych is 90% medi/medi so I'll stick with RVUs instead of collections, please.

[Antares]

Self-employed private practice psychiatrist so not applicable to your question.

My Charges = Collections = Compensation