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Financial applications using the cost per RBRVS methodology.

M F Berlin1, B P Faber

  • 1Michigan Ear Institute, Farmington Hill 48334, USA.

Medical Group Management Journal
|October 4, 1996
PubMed
Summary
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This study uses the resource-based relative value scale (RBRVS) to calculate the cost of physician services. This method aids practice administrators in financial analysis and contract evaluation.

Area of Science:

  • Health economics
  • Medical practice management
  • Cost accounting

Background:

  • Physician service costs require accurate allocation methods.
  • Traditional methods may not adequately capture all practice expenses.
  • Effective cost accounting is crucial for financial viability.

Purpose of the Study:

  • To apply the resource-based relative value scale (RBRVS) for allocating physician salaries, malpractice insurance, and practice expenses.
  • To demonstrate a cost accounting methodology for determining the cost of physician services.
  • To outline applications for practice administrators in financial and contract analysis.

Main Methods:

  • Utilizing the resource-based relative value scale (RBRVS) as a foundational framework.
  • Allocating physician salaries, malpractice insurance, and practice expenses based on RBRVS.

Related Experiment Videos

  • Applying cost accounting principles to determine the total cost of providing physician services.

    • Main Results:

    • The RBRVS-based method provides a clear approach to cost allocation for physician services.
    • Practice administrators can use this methodology for fee schedule analysis and managed care contract evaluation.
    • The method supports determining floor capitation rates and analyzing payer profitability.

    Conclusions:

    • The RBRVS-based cost accounting method offers a practical tool for healthcare financial management.
    • Accurate cost determination facilitates better contract negotiation and financial planning.
    • This approach enhances the ability to manage capitation and assess third-party payer profitability.