The votes are in, and thanks to all of you who voted on our blog and Facebook. The winner of our Medical Billing Tip of the Month contest this month is…
Review Your Fee Schedule Yearly
Are you leaving money on the table that could be in your pocket?
Do you review your fee schedule yearly? If not, chances are you are not collecting as much reimbursement as you could be. Under-priced fees can cost a practice thousands of dollars every year.
Here are a couple ways to add those extra $$ to your pocket. Compare your fees to Medicare and Contracted Commercial Payers fee schedules. You can purchase a fee analyzer, which can be expensive, or if you are the do-it-yourself type person like me, you can download the payers fee schedules and copy and paste them into an Excel spreadsheet to compare your fees to specific payers. You can even use Excel and create a column to calculate your new fees, setting them above the payer contracted rates.
Tammy Chidester, CPC, CPMA, CEMC, PCS
Thank you to all who entered; please be sure to submit your Medical Billing Tip of the Month to Marketing@Kareo.com by Friday, February 17, for inclusion in the next round of judging. We’ll post the top three tips on our Facebook page for your vote! You will win a $250 American Express gift card if your tip is chosen. Good luck!