Fee Schedules are used to organize your payor’s rates in one single location within CentralReach. Fee Schedules allow you to link your payors insurance plans together and easily apply one defined rate across all plans for a specific service code.
Billing / Fee Schedules Rate vs. Agreed Rate in the Fee Schedule
When adding a Fee Schedule to a Service Code, you will be able to enter a Rate and an Agreed Rate. The Rate is the amount you are charging for a specific service while the Agreed Rate is the service rate you have negotiated with an insurance carrier.
The Agreed Rate is typically lower than your Rate. If you do not have an Agreed Rate, then it should be equal to your Rate.
The owed amount within billing and on your billing reports can be set to calculate based on your agreed/contracted rate.
To learn how to add a fee schedule to a service code, click here.
Billing / Fee Schedules / Billing / Service Codes What is the Default Column in Service Codes?
The Default column within the Service Codes grid, displays the number of fee schedule rates associated to the service code.
When clicking over the value under the default column, you will be redirected to view the fee schedules attached to the service code, and their corresponding Rate and Agreed Rate. A service code can have multiple fee schedules attached.
To learn more about about the difference between Rate and Agreed Rate, click here.
To learn how to create a fee schedule, click here.