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Building a Profitable and Defensible Fee Schedule

Posted by Lisa Velasquez in Fi-Med Services, Hot Topics, Industry Updates, Webinars

Do you know where your fee schedule came from? Is your office manager working off of a fax of a fax of a fax of a fee schedule created by a billing company you used years ago? Stark laws prevent physicians from comparing fee schedules–so how do you come up with your fee schedule?

Whether you are just starting your own medical practice or a seasoned veteran, I think you will find the information in this webinar very informative. The topic is “Building a Profitable ad Defensible Fee Schedule”. And as usual, if you can’t attend, the information is available to you (free) if you visit the webinar section of Frank’s website. 

Here is a brief description of what you can expect:

The fee schedule is the medical practice’s most important, yet least analyzed financial tool. Learn the benchmarks, metrics and resources needed to analyze and fine-tune your practice’s fee schedule code by code. In this workshop, Frank Cohen, data analyst and statistician, will show you how to identify over and under-priced services and how to solve low-paying fixed-fee contracts. Methodologies will include RBRVS, time, global charge models and benchmarking against  national and state charges. When complete, attendees will have acquired the skill set necessary to immediately begin their own in-depth fee schedule analysis.

For a nominal charge, attendees will have access to a complete tool box, which includes recorded versionsof the workshop handouts along with worksheets, templates, benchmark data and other resources necessary  to assist with the fee analysis and development process.

Title: Building a Defensible and Profitable Fee Schedule

Date: Tuesday, July 7, 2009

Time:1:00 PM-2:00PM EDT

If you can’t make it for the live webinar Frank will make all information available on his website.

Did you find this information helpful? If you have information that you think would be valuable to the medical community and would like me to post the information on our blog, please submit your request for review to my attention at (or via DM on Twitter@fimed).

Press Release: Fi-Med Adds Nationwide Electronic Prescription Services For Physicians

Posted by Lisa Velasquez in Fi-Med News, Fi-Med Services, In the Press

Ahead of the curve: Fi-Med gets doctors on board with e-prescriptions before Medicare penalties take effect

In the rush to digitize health information and medical records, even prescriptions are making the jump from notepad to network. Soon the squinting and scrawling and folding and crumpling of the physician-pharmacist relationship will be replaced by high-speed data delivery from point-of-service, at time of service, direct to the pharmacy.

Fi-Med Management, Inc., a medical billing and financial management company headquartered in greater Milwaukee, announced this week the addition of electronic prescription services to its portfolio of client services.

The service, part of Fi-Med’s Electronic Medical Records (EMR) package, gives physicians the ability to send error-free, electronic prescriptions directly from point-of-care to the pharmacy without ever lifting a pen—a critical component in the improvement of patient care and safety.

Fi-Med’s e-prescription software partner, SequelMed, provides drug and benefit details and patient medication history from prior patient records, even those generated by other physicians and hospitals. Clients also have access to online drug reference guides, reporting capabilities and 24/7 electronic access to patient prescription data.

On January 1, the Centers for Medicare and Medicaid Services (CMS) released e-prescription codes, available here.

Physicians using e-prescriptions may be eligible for a 2% bonus payment at the end of 2009, provided they’re paid at least 10% of total Medicare Part B reimbursement for services in the office, with the consistent reporting of these codes. That bonus will decrease beginning in 2010, and penalties in the form of reduced payments through Medicare Part B are slated to affect physicians not using electronic prescriptions by 2012.

For more information or to subscribe to news affecting physician reimbursements and related services, visit the Fi-Med blog or call 800-318-0019.