Flat-Rate vs. Tiered Medical Record Review: Which Saves You Mor
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When law firms, insurance companies, or medical-legal professionals outsource medical record reviews, one of the questions they face is about pricing. Should you go with a flat-rate service where the cost is the same whatever the case size be, or a tiered pricing model where the price adjusts based on page count, complexity, and turnaround time? Both have their advantages and choosing the right one can mean saving thousands over time.Advantages of the flat-rate pricing
Flat-rate pricing is agreeable due to its predictability. You know exactly what you’ll be charged for each review, whether the case involves 500 pages or 5,000. This helps you come up with a budget plan upfront, especially for firms handling multiple cases each month. Flat-rate also reduces the stress on hidden costs as there won’t be any surprise invoices.
For firms handling high-volume cases, flat-rate services often feel like a safe haven. If you routinely deal with large, complex cases, a single predictable price could help you cut overall expenses compared to per-page billing for medical record review.
Limitations of flat-rate pricing
Flat-rate pricing can sometimes lead you to overpaying for smaller cases. For example, if you’re reviewing a simple and straightforward case with only 150 pages, you might end up paying the same as someone with a massive 1,000-page record. Flat-rate models are suitable for firms with bulkier cases, but not the most cost-effective option for everyone. Moreover, you may not get customization options with flat-rate models. Even if they give you customization, it will be limited and can cost you additional pricing.
Advantages of tiered-pricing model
Tiered pricing charges based on the scope or volume of work. For instance, the first 100 pages may cost a flat fee, with an additional per-page rate for the next set of records. This ensures that you pay proportionally to the actual workload.
For firms with a combination of small and large cases, tiered pricing can be more flexible and beneficial. You don’t pay extra for unused capacity as you might with flat-rate models, and it’s easier to scale costs according to case volume and complexity.
Another major benefit is the customization. Many tiered pricing depending on turnaround speed, depth of analysis, or the inclusion of add-on services like chronologies, narrative summaries, or expert special reports. This flexibility allows you to make the review align with the case specific needs.
Limitations of tiered pricing
Less predictability is the major drawback of this method. If you underestimate the size of a case or request add-on services the final bill may give you a great shock. For firms that expect fixed pricing this unpredictability can be frustrating.
Which Saves You More?
The answer depends on your case types and volume.
If you consistently deal with large, complex cases, flat-rate may save you more in the long run by limiting costs.
If your caseload varies widely, or you handle many smaller cases, tiered pricing often suits you better.
There’s no one-size-fits-all answer. The best approach is to evaluate your firm’s case history and match it to a pricing model that maximizes value. Whether flat-rate or tiered, the goal is the same- transparent, efficient medical record review that saves time, reduces costs, and strengthens case outcomes.
Want to know about a better medical record review pricing model?
LezDo TechMed offers a combined model for their medical record review services. Their model includes- a fixed-rate for the first set volume and then adds up tiered pricing depending on the additional pages you upload but lesser cost per page as the volume goes up per each tier. Higher volume means more savings. This cost reduction for bulk volume cases can benefit bigger firms.
They offer customization too. You can benefit from their customization and add-on benefits at a reasonable cost. You can use their cost estimator to come up at an estimated budget for your case. Making use of their services ensure that you get quality services at an affordable pricing.
