Charge and Allowable Fee Schedules
Efficient medical practices know what they charge per procedure code, and what they expect to get paid by each insurance carrier. The medical office will data enter this information into the Charge and Allowable fee schedules.
Charge Fee schedules reflect what the doctors officel bills for a specific procedure code. Allowable Fee Schedules reflect what each individual doctor, group or facility is contracted to collect on each procedure code. Each health insurance carrier sets their own allowable fee schedules.
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Once this is setup your office will see the benefits from reports that will verify if you are receiving the correct allowables (payments) per insurance carrier.
Setting up Fee Schedules have other huge impacts on your office efficiency, and the importance of setting up the Charge and Allowable Fee Schedules will become apparent for the medical billers as you will learn in the training videos. It will save you a lot of time on data entry as well. |
Each doctor is tied to 1 charge fee schedule whereas they can have unlimited allowable fee schedules. It's best to create a fee schedule for each insurance carrier the doctor is contracted with along with any other miscellaneous insurance, auto, workers-compensation program.
If you are interested in learning more about setting up Medical Billing Charge and Allowable Fee Schedules please visit our FREE Medical training video series.
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