» Service Fees
When you sign up to use our services, we become a steady part of your practice. We provide you with support, training, and insights designed to help you obtain optimal reimbursements for your services. Your billing team is updated, regularly, on changes that occur within the insurance billing industry so they can evaluate the impact such changes will make on your practice. They will then keep you informed as well. As you can see, there is much more to Larsen Billing Service than that of filing claims for reimbursements. This is why there is a monthly fee invoiced to your account each month
- $399 For providers/birth centers who already bill insurance and information is up to date
- $499 For new providers/birth centers, not already billing insurance or, for those who bill insurance but have changes that need to take place (i.e. address, name, tax ID)
Note: There is an extra $50 fee attached for providers who want to use both her own tax ID and her birth center tax ID when setting up a NEW account with LBS. This pertains to both the standard fee and the extended fee options.
Practices with 1-19 insurance births per year: 8% commission on insurance payments OR $50 monthly base rate, whichever is greater.
Practices with 20 or more insurance births per year: 8% commission on insurance payments, no monthly base rate.
This percentage rate will stay in place for 6 consecutive months, beginning with the date listed on the signed LBS contract. In order to be fair to both parties involved, LBS reviews account data every 6 months. If, at that time, we see there is a need to make adjustments to the fees portion of your contract and a new contract is to be signed, LBS will contact you directly to discuss options.
The monthly base rate fee will go into effect the first of the month following a 90 day grace period.
- $20 Verification of benefits (to be paid at time of request, online submission)
- $50 Flat fee or 8%, whichever is higher, for partial maternity care claims
- $20 Flat fee or 8%, whichever is higher, for GYN care claims
- $100 Flat fee for billing high-deductible claims (rate includes all claims for mom and baby)
Example You have a client who knows they have a high deductible and chances are slim for you receiving any reimbursement from the insurance company, yet they want the claim to be submitted anyway (so it will be applied to their deductible).
Demographic Change Fee
The following fees will be charged if there are practice demographic changes, such as address, name, business name, tax ID, etc., that need to take place:
If provider does not bill Medicaid:
- $250 (per occurrence) for address, name, business name updates
- $300 (per occurrence) for the above changes, plus a tax ID change
If provider bills Medicaid:
- $300 (per occurrence) for address, name, business name updates
- $350 (per occurrence) for the above changes, plus a tax ID change
Legal partners, employees, and birth center accounts may become clients of Larsen Billing Service by signing a new contract agreement and paying an additional start-up fee of $250 if no new tax ID is added, and $300 if new tax ID is added.
Non-legal partners must sign an contract agreement and pay their own start-up fee at the current rate.
Verification of Benefits Fee
There is a $20 fee to have Larsen Billing Service verify benefits.
Read more about VOB »
Provider Reactivation Fee
If a provider is inactive for more than six months and then wants to reactivate her account, there may be a fee assessed to update her forms and re-enter the information into our systems. The fee for this will be assessed on a case-by-case basis depending on the situation.
Note: A provider is considered inactive if there has not been any communication between her and her billing team for a 6-month duration.