Prepare Your Fee Schedule with our Accurate Benchmark Information
The fee schedule is the most important financial tool in any business and a medical practice is no exception. Having a properly prepared and defensible fee schedule is paramount when it comes to fairly and honestly representing the value of the services and procedures provided by a healthcare provider.
While there are several methodologies for developing a fee schedule, such as hourly rates, cost-plus-markup, etc., it is important to benchmark the results against your peers. This is often the only way to get a handle on competitive and market dynamics. Our fee schedule workbooks are designed to not only provide you with accurate benchmark information but are also the only data sets of their kind to also show variability and sample error, two metrics that are critical to understanding the value of the data.
The workbook includes charge data for 68 specialties for a specific state; from addiction medicine to vascular disease. Each specialty tab contains charge data and statistics for procedures performed by that specific specialty:
- average charge for non-facility settings
- average charge for facility settings
- average charge of all places of service with standard deviation and upper / lower bound for the 95% confidence interval.
- utilization for that code as a percent of all procedure codes reported and its ranking amongst all codes.
The workbook also contains additional worksheets to provide robust analyses:
- Matrix of the national and state average charges by specialty, for cross-specialty comparisons.
- Charge statistics for the specialty, using nation-wide figures.
- Statistics for the average charge for each procedure for all specialties for that state.
- Statistics for the average charge for each procedure for all specialties for the nation.
to download a Sample Workbook now...
The Fee Schedule workbook is $99 per state, simply select the state and click the Add to Cart
button. For pricing on bundles, call us at 877-418-5564 or email [email protected]
1. This workbook is delivered via email within one business day
of your order.
2. The data for this workbook comes from the Physician/Supplier Procedure Summary (P/SPS) Master File, which contains 100% of all claims submitted to CMS during any given calendar year. In total, the database consists of over 5.4 billion claim lines that include nearly every specialty and every physician in the U.S. The data is aggregated by 8 dimensions to produce a file with more than 13 million records, each containing data on charges for that group. Average charges are calculated by dividing the total charges by the total number of claim lines for each of the stratified groups and this data is then used to compile the statistics found in the worksheet. Based on four studies we have conducted over the past two years, we have concluded that just over 93% of physicians submit their retail (usual and customary) charge to Medicare when submitting a Medicare claim. Therefore, we are confident that the average charges and conversion factors reported in this worksheet accurately represent the market dynamics of retail charges for physicians and their practices.