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Lab Fee Schedules
This question regards fee-schedule creation. We use Quest for our labs, and it has provided client pricing for the labs we do. We then bill the insurance company, and we pay Quest the negotiated fee. We based our fees on Medicare’s fee schedule, setting our labs at 300 percent of what Medicare pays. I think we’re undercharging. Any ideas on how to base our lab fee schedule outside of Medicare’s schedule? Is there another standard for lab fees/reimbursements?
Question: This question regards fee-schedule creation. We use Quest for our labs, and it has provided client pricing for the labs we do. We then bill the insurance company, and we pay Quest the negotiated fee. We based our fees on Medicare’s fee schedule, setting our labs at 300 percent of what Medicare pays. I think we’re undercharging. Any ideas on how to base our lab fee schedule outside of Medicare’s schedule? Is there another standard for lab fees/reimbursements?
Answer: Medicare pays for very few tests, so if it pays zero, your 300 percent multiplier still earns you zero.
With respect to what to charge, you can capture data from your EOBs regarding what you actually get paid.
You can also set your fees as a multiple of Quest charges.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
