• Twitter
  • linkedin
  • pinterest
Medical Healthcare Management Ltd | Hilton Hall, Essington. Wolverhampton. WV11 2BQ
menu
  • Home
  • Coding
  • Billing
  • Collections
  • Fees & FAQ
  • Blog
  • Contact
  • Testimonials
    • 24
      Oct
    • (0)
    • By Pete Crutchley


    • Medical Billing News

    The easy way to increase your fees

    One of the most common mistakes made by a private consultant surgeon when invoicing is undercharging for their work. This is alarming when considered against the question most asked by a private consultant surgeon.

    How can I charge more for my work?

    This always spins off into a debate concerning how private medical insurance companies are the enemy. Fees are always being reduced with the private surgeon being paid less and less it is claimed. That may be true sometimes but is not the right place to start.

    The Right Place to Start

    The right place to start is to make sure the private consultant surgeon is charging the correct fee. Such fee may be less than the surgeon wants of course but, many times, be more than he thought he was entitled to.

    Take the example of an orthopaedic surgeon who contacted MHM to process  her medical invoices recently. She was of the opinion her consultation fees were too low. That also may be correct. But that was the consultation fee the insurance company  were prepared to pay.

    In reality the orthopaedic surgeon was unaware some of the insurance companies were prepared to pay a fee for minor procedures carried out at a consultation. They would pay a procedure fee together with a fee for the consultation. Whilst some insurance companies weren’t prepared to pay both fees, some were. Instead the consultant had been charging ONLY for the minor procedure. She had not been charging for a consultation as well.

    More Common Than You May Think

    The same situation was equally applicable to a private dermatologist just as it was applicable to a GI surgeon. It is not therefore applicable solely to orthopaedic surgeons. It is applicable to many specialisms. The issue therefore becomes one of: am I charging the right fee?

    To confirm the fee is correct  a review of procedure codes and the fee for the procedure code should be undertaken. Both may then be compared against the fee structure of the private medical insurance company concerned. Each code and combination of codes must be checked against the fee schedule of the private medical insurance company.  The often stated assumption that all insurance companies pay the same fee for the same procedure code should be rejected.

    Variation in fee structure

    Take the example of a repair of the primary repair of achilles tendon. Insurance company A pay a fee of £336 whereas insurance company B pay £405 – £69 more! The orthopaedic surgeon concerned was of the belief insurance companies paid out the same fee. She had UNDERCHARGED by £69 as a result.

    To return to the original issue of charging a consultation fee alongside a fee for a minor procedure, take a look at injection into soft tissue. The same insurance company paid a fee of £108.  The orthopaedic surgeon in question was unaware that a follow up consultation could be charged in ADDITION to the fee for the injection. Another £150 on top of the £108! Thus the correct charge was not £108. It was in fact £258

    What is your specialism?

    To further illustrate the point a dermatologist may charge the very same insurance company, £91 for a curettage of skin or lesion. He or she may ALSO charge a follow-up consultation fee in addition. If the follow-up consultation fee is £100 (and it is for the MHM client concerned) the fee for the WHOLE event has doubled!

    Thus the most common mistake in medical invoicing is not realising that fees can and do differ between insurance companies and also that some, not all but some, private medical insurance companies will actually and quite happily pay MORE for your work than you may be aware of.

    pete@medicalhealthcaremanagement.co.uk

     

    FOUND THIS INTERESTING? PLEASE SHARE USING ICONS BELOW:


    Facebooktwitterredditpinterestlinkedinmailby feather

     

    Share this:

    • Email
    • Twitter
    • LinkedIn
    • Tags
    • consultant invoices
    • consultant surgeon
    • insurance companies
    • medical invoicing

    Leave a Reply Cancel reply

© Copyright 2020 - MHM Ltd - Website Terms - Privacy Policy - Cookies Policy

Healthcare and medical web development

MHM Ltd Cookies Policy

This website uses cookies to improve your experience. Please visit our Cookies Policy page for more information about cookies and how we use them.

Close