Setting Fees Can be a Tricky Process
As a result of the Sherman Anti-Trust Act, price-fixing or collusion when setting fees is prohibited. Therefore, calling friends to find out what they are charging is a big mistake. KMC University offers a Chiropractic Fee Analysis that is one of our most sought-after services. Our consultants use proven techniques to evaluate your current fees and review every aspect of your fee system. For example, they look at contracted fees, mandatory regulated fees, and elective fees (e.g., Professional Courtesy or Hardship Fees) for legality and compliance. Our specialists then analyze that data to ensure your fees are viable and in line with the actual cost to deliver services.
Included with your Chiropractic Fee Analysis We Will:
- Help your staff gather fee information and upload that data to our HIPAA secure server for analysis
- Review your current actual fees and compare them to any required contracted fees and to the fee averages for each code in your practice area
- Analyze your current discounts for cash patients and ensure they are safe, legal, and compliance
- Explain discounts for financial hardship or professional courtesy and help you establish those discounts in a legal and compliant way
As the result of a Fee Analysis, you will:
- Receive a professional review of your existing fee system with an evaluation from business, compliance, and profitability perspectives
- Determine actual fees that reflect the cost to do business and provide reasonable profits for the practice
- Explore viable, compliant discounts that are acceptable from a regulatory point of view
- Establish an operational fee system that applies appropriate fees for each type of patient in the practice
***For an additional fee, a KMC University specialist will assist with setting up this new fee system within your practice software.
Fee Analysis and Fee System Update