New York -- April 25, 2024
Let’s say that you acquire a new patient. This is excellent, and it’s always good that your agency is growing. But now you have to hire an aide and we have to look at the payroll for the aide.
The aide makes a rate of $21.09 an hour. So multiply that by 40 because she works 40 hours with no overtime. That’s a total of 843.60. That’s the pay for a full week. But then you have to multiply that 843.60 by 4 to account for the whole month: That total is 3,374.40. However for the first month you have to account for the very first week before payroll is put into place, so you add 843.60 to that number. This gives you a total of 4,218.00.
Once you do these calculations, you have to consider payroll fees and other fees. Let’s say that is about 3 dollars so we add that to 21.09 to be about 24 dollars. So this means there is a margin of about 3 dollars.
It can be important to understand these costs and fees and to do the math of acquiring a new patient. While it is exciting to grow a business, keeping in mind these concerns is also important to a sustainable practice.
There are a few other concerns about payroll and billing that an agency opener must be aware of. This is especially true when it comes to the potential for an audit.
Billing hours accuracy
While employees are technically scheduled to work for a certain number of hours per day and per week, it is common that they will clock in a bit early or clock out a bit late. That is due to the unique day to day demands of the job or even some external factors like traffic or something taking longer or shorter than usual. With Carecenta you can make sure that your billing is accurate as our system will flag any irregularities and let you know where you might be vulnerable in an audit. You can also look at your local laws and regulations for what to do in unique and confusing situations.
Automated EOP
Another concern for billing and payroll is the explanation of processing. This can be problematic because of how claims are itemized. They are especially important when it comes to billing and audits because they show whether a claim was processed, how much was paid if any, what the date was, and why the claim wasn’t paid if it was not. Carecenta offers automated EOP, which can save time and catch any problems as they come. This way all parties have a clear understanding of what is going on and what problems need to be solved.
Automated minute by minute billing
It is really important to keep precise track of billing, so that claims can be processed accurately and that accounts receivable payments can be completed. As mentioned above, minute billing can lead to some confusion or worse. With Carecenta you can get automated billing which will be calculated by the software. This will account for human error and so will provide real time reports and accurate information. The feature in Carecenta has automatic audits which is really important. It cannot be stressed enough how crucial it is for agencies to self-audit regularly. This is because you can catch irregularities and protect yourself from a harder situation. It is also important to make certain that your aides and other staff members are one-hundred percent sure of the regulations, best practices, and legal implications/requirements. By self-auditing, you can maintain control of your payroll and billing so that you can account for every dollar and every minute in your transactions.
Invoices with printed timesheets
One issue that could come up with employees is a dispute of their timesheets and received pay. Without a clear resolution on that, you run the risk of employee turnover and time wasted going back and forth. Carecenta offers clear invoices with detailed timesheets so that you and your employees can go over any concerns. Here you can also keep track of how much an employee is making and costing, and figure out if there is a payroll problem and where.
By utilizing the Carecenta features you can protect your agency and make sure that you are delivering the best care possible to your clients. Your staff and your aides will be satisfied because there will be no ambiguity and little confusion about what they need to do. Carecenta is here to give you peace of mind and to make these complicated situations easier to understand. With the state of the art technology, peerless automated reports and billing, and dedication to ironing out potential wrinkles, Carecenta is a fully integrated workflow system that can be customized to your specific requirements and how you want to run your agency. Through the extensive list of features, Carecenta offers solutions that can support your business’s unique needs and opportunities.