Frequently Asked Questions
What is a cooperative?
A business or other organization which is owned and run jointly by its members, who share the profits or benefits.
We are provider-owned and operated. All profits that are not part of the operating expenses are returned to our members at the end of the fiscal year.
What makes PSC different from other billing services?
At PSC, we take pride in our ability to give all members and clients individual attention. If you need us, we are here for you. We are easily reachable with any questions you may have or to offer assistance with complex billing issues or projects. We have been in business for 40 years and have developed strong relationships with our provider representatives which allows us to resolve carrier billing issues quickly.
What are the benefits
of outsourcing my medical billing?
By outsourcing your medical billing to PSC, you allow us to take on all billing processes and issues while increasing your productivity and allowing you to focus on your practice.
What is needed to start working with PSC medical billing?
If you are an established provider, we can start billing most insurance carriers right away. Provider set-up within our billing software and clearinghouse is easy. We will take care of all EDI/ERA/EFT changes. We have a dedicated provider credentialing specialist that will get to work immediately on any contracts and insurance identification numbers required for new providers.
How does the pricing work?
At PSC, our pricing is based on transactions, statements, claims, new accounts, and active accounts. With this pricing format, most clients will be charged under the national average percentage for billing services. Our average client pays between 4% and 6% of collected income. At the end of our fiscal year, cooperative members will receive an annual patronage dividend. Basically, any profit goes back to our members.
Does PSC require a long term commitment?
PSC does not require a long term contract. After the first year, there are no cancellation fees. We only require a 90-day notice of cancellation.
What are the benefits of becoming a PSC member?
Members are given a 20% discount on all service fees.
All profits go back to our members, annually.
We have quarterly meetings with the board of physicians who, along with the office manager, make all decisions for the company. Members are welcome to attend all board meetings (either in-person or virtually) to provide input in company decisions.
What is required to become a PSC member?
All providers seeking member status are required to purchase stock in PSC. There is a stock fee of $3,000 per provider. We do not require this upfront and allow all providers to make payments until the stock requirement is satisfied. Upon leaving the Cooperative, the stock payment will be returned.