Here are the numbers I used. They are very rough estimates, but you can kinda replace my numbers with yours and calculate your own worth if you can figure out from the front desk people or from billing how much each icd9 & E&M are worth. (My numbers are from a combo of family and internal medicine)
- I will be able to see about 35-40 patients a day
- Charge for services:
Typical E&M codes- 99203, 99213, 99214
- Insurance reimbursement for services: Charge per visit $120, insurance usually only reimburses about $85-$90 per visit
- Conservative overhead costs will be about 60% of earnings.
So if I see 40 patients per day X $85= 3400/day.
If I contribute 60% of earnings to overhead(typical overhead is 40-60%): 782,000-469,200= $312,800
- I will use 30% for employer earnings: 312,800-93840=$218,960 (employer earnings! They make a lot of us!)
- subtract 30% for annual benefits: 228,960-93840=$125,120
subtract continuing education/IT materials/miscelanneous: $5,000
- Take home: $110,000-$120,000
But I'll say 100K just in case I overestimated some things.:redpinkhe