• Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

Q&A: Setting the right fee schedule

Article

Our fee schedule hasn't changed in a while, and I'm concerned that we're undercharging for some procedures. What can we do to learn whether our fees are at appropriate levels?

Q: Our fee schedule hasn't changed in a while, and I'm concerned that we're undercharging for some procedures. What can we do to learn whether our fees are at appropriate levels?

A: One way to determine if you are undercharging is to look at whether Medicare and any other significant payers are paying 100 percent of what you charge. A more sophisticated approach is to evaluate your fee schedule compared with regional rates. You can do this by purchasing a report from any number of vendors or consultants at the National Society of Certified Healthcare Business Consultants website at NSCHBC.org (go to "Find a Consultant" and select the specialty of "Billing"). Don't just ask colleagues, because the results are anecdotal, and don't conspire to fix fees-that is illegal.

Related Videos
Peter H. Reilly, HUB International
Peter H. Reilly, HUB International: ©HUB International
Peter H. Reilly, HUB International
Robert E. Oshel, PhD
Gary Price, MD, MBA
Victor J. Dzau, MD, gives expert advice
Ron Holder, MHA, gives expert advice
remote patient monitoring
referral
© 2023 MJH Life Sciences

All rights reserved.