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Related Experiment Videos

RVU costing applications.

M F Berlin1, B P Faber, L M Berlin

  • 1D.J. Sullivan and Associates, Ann Arbor, MI, USA.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|October 4, 1997
PubMed
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Relative value unit (RVU) cost accounting, using the resource-based relative value scale (RBRVS), helps determine service costs and physician fees. This data aids in managing costs, setting realistic fees, and negotiating better contracts for group practices.

Area of Science:

  • Health Economics
  • Medical Practice Management

Background:

  • Accurate cost accounting is essential for physician practices.
  • Resource-based relative value scale (RBRVS) provides a framework for valuing physician services.

Purpose of the Study:

  • To demonstrate the application of Relative Value Unit (RVU) cost accounting.
  • To highlight its utility in determining service costs and physician fees.
  • To explore additional financial management applications for group practices.

Main Methods:

  • Utilizing the resource-based relative value scale (RBRVS) methodology.
  • Applying RVU costing to determine the cost of producing healthcare services.
  • Analyzing financial data for fee schedules and reimbursement.

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Main Results:

  • RVU cost accounting accurately determines the cost to produce services.
  • Calculations facilitate the setting of appropriate physician fees.
  • RVU costing supports analysis of fee schedules and third-party reimbursement profitability.

Conclusions:

  • RVU cost accounting is a valuable tool for group practice administrators.
  • It enables effective cost management and realistic fee setting.
  • It aids in negotiating more profitable managed care contracts.