To run a profitable practice, it’s important to collect enough to cover your expenses and turn a profit. You can increase your collections several ways, but one of the easiest and most effective ways is to update your fees to ensure that they are in line with the current market.
You can update your fees several ways. You can update all your fees at once by making automatic fee schedule changes, you can update the fees in patients’ treatment plans whose estimates have expired, or you can manually update each fee for each procedure code.
This article addresses the third method of manually updating each fee for each procedure code. Past articles have addressed making automatic fee schedule changes and updating treatment plan fees. Click the links to view those articles.
Updating Fees by Procedure Code
There are advantages and disadvantages to manually updating fees by procedure code. The advantages are that you can view all fees attached to a procedure code and two people can work on the list simultaneously from separate workstations. The disadvantage is that it may be a more time-consuming option, so it may not be practical during a busy time in the office.
To manually update fees by procedure code:
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