When creating a new fee schedule, you can easily select how you want to add the procedures and fees: Either manually or by importing or copying an existing schedule. Once added, your Standard Fees list will include all fee schedules, the effective dates of the schedules, the basis or "source" of the fee, and the status.
To add a fee schedule
- Click Settings > Contracts & Fees.
- On the Standard Fees tab, click Add New Standard Fee Schedule.
- Enter a name for the fee schedule you are creating.
- Select an option to add the procedures and fees:
- Import from file: This option provides an Excel template to help you enter your fee schedule in the correct format. Once you have done this, choose the file for import. Once the file is imported, you can make edits to the schedule (see below).
- Add Procedures and Fees Manually: Enables you to manually enter each procedure and fee (see below).
- Copy from existing Standard Fee Schedule: Allows you to copy a fee schedule that was already created or that is from another practice on your account. After selecting the file to copy, you can make edits to the schedule (see below).
- Select how you will add fees:
- Add fees manually - Allows you to enter (or modify) the fee amount for each procedure that you add.
- Base on Medicare - Updates the entire fee schedule based on Medicare rates; the Medicare rates are based on your service location; see Tip below.
- If you selected to base the fees on Medicare rates, enter a percentage and select the rates you want to base the fees on.
- Enter procedure codes, separated by commas, and click Add.
- Modifier: Optional. Select a modifier from the drop-down menu.
- Your Fee: Manual entry of fees.
- Medicare: Displays the Medicare rates of the procedure for easy comparison.
- To delete a procedure, check the box and click Delete selected procedures at the bottom.
- Click arrows to navigate between multiple pages.
- Click Continue to complete the fee schedule.
- Finalize the fee schedule:
- Enter a number in the "e-Claims No Response Trigger" box: This is the number of days after which the system will alert you when payments for electronic claims have not been received; Kareo PM recommends 21 days.
- Enter a number in the "Paper Claims No Response Trigger" box: This is the number of days after which the system will alert you when payments for paper claims have not been received; Kareo PM recommends 30 days.
- Add the providers who will be using the fee schedule.
- Add the locations that will be using the fee schedule.
- When finished, click Save & Submit.
Medicare: The Medicare rates provided are based on the most current published Medicare Physician Fee Schedule Relative Value Units. They are calculated with your corresponding Geographical Practice Cost Index (GPCI) and then multiplied by the current conversion factor. Though Medicare values are displayed for the majority of procedures, not all are reimbursable under the Medicare program (i.e.: Outpatient and Inpatient Consultation). Kareo PM has opted to include these values since commercial payers are still accepting these codes, and the values displayed can serve as a reference for defining your fee schedules. Please consult with your Medicare administrative contractor for confirmation on reimbursable procedures for your specialty and region.