Chiropractic Per Visit Cost Analysis In a healthcare practice, the cost of doing business (expenses) is an important statistic that you need to both know and monitor on an ongoing basis. A per visit cost analysis is one of the most useful but least used tools for managing a practice. The analysis considers all of…
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One of the most important statistics on the business side of the practice is the cost per visit. There are many ways to calculate this statistic, but an overview and periodic updating of this number is critical to profitability. Fees can’t be set without knowledge of what the practice costs are. This high-level overview outlines…
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Download Support Tool At its very core, the practice fee system can be explained in a series of “either/or” scenarios. It starts by explaining that all the fees in our practice are either “actual” fee or “discounted” fees. From there, discounted fees are either “imposed” or “elective”. A keen understanding of this concept is essential…
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What Will You Charge? One of the most important tasks for any provider opening a practice is to decide what to charge. There are many ways to come up with this “actual” fee schedule. One is to set a pre-defined master fee for each service and code offered in the office. This “Charge Master” is…
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The Actual Fee, or your charge master, is the controlling fee in your system. From this actual fee, all discounts are taken. Often, because of contracted fees and other elective discounts, we forget that the main fee must be based on certain elements, such as demographics and practice costs. This overview outlines the purpose and…
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Download Support Tool There are a variety of patient types and each of them must be considered when making a business decision with regards to the practice’s financial set up. If you decide to accept all patient types, you need to count the cost. This can only be done by properly evaluating what is involved…
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