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Related Experiment Videos

Fee schedule analysis.

Frank D Cohen1

  • 1Medical Information Technology Systems, CPA Health Partners, Clearwater, Florida, USA. frank@cpahealth.com

The Journal of Medical Practice Management : MPM
|November 3, 2007
PubMed
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Optimizing your medical practice

Area of Science:

  • Healthcare finance
  • Medical practice management
  • Econometrics

Background:

  • The fee schedule is a critical financial tool for medical practices.
  • Its strategic importance in revenue optimization is often underestimated.
  • Practices must proactively manage fee schedules rather than deferring to payors.

Purpose of the Study:

  • To highlight the significance of a well-structured medical practice fee schedule.
  • To demonstrate how fee schedules impact future allowable calculations.
  • To advocate for proactive fee schedule management for financial success.

Main Methods:

  • Application of econometric models for fee schedule analysis.
  • Incorporation of true costs, market dynamics, and competitive factors.

Related Experiment Videos

  • Utilizing value-based pricing strategies.

    • Main Results:

    • A dynamic fee schedule directly influences future allowable calculations.
    • Strategic fee setting optimizes revenue potential for healthcare organizations.
    • Econometric analysis provides a framework for effective fee schedule development.

    Conclusions:

    • Medical practices must treat their fee schedule as a key business asset.
    • Proactive management using business techniques ensures financial viability.
    • Leveraging analytics and sound financial models empowers practices to meet financial goals.