Dr. Jones recently asked Lucy to develop a fee schedule for the office. Some physician practices bill at rates from 100% to 500% of Medicare. However, both percentages have disadvantages. Lucy must determine the best approach for the practice to ensure profitability. Select an appropriate percent, between 100% to 500%, that Lucy should use when setting the in-office fees. Explain why Lucy should choose this percentage. Explain how the conversion factor for the fee schedule is determined. Discuss two disadvantages of setting the office fee schedule at 100% or 500% of Medicare.
Dr. Jones recently asked Lucy to develop a fee schedule for the office. Some physician practices bill at rates from 100% to 500% of Medicare. However, both percentages have disadvantages. Lucy must determine the best approach for the practice to ensure profitability. Select an appropriate percent, between 100% to 500%, that Lucy should use when setting the in-office fees. Explain why Lucy should choose this percentage. Explain how the conversion factor for the fee schedule is determined. Discuss two disadvantages of setting the office fee schedule at 100% or 500% of Medicare.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Dr. Jones recently asked Lucy to develop a fee
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