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Discuss physician fee schedules and the concept of RBRVS. Why do fees vary? What are the key determining factors?
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Expert answered|sharpies|Points 5192|
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Asked 11/22/2011 3:01:13 PM
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Discuss physician fee schedules and the concept of RBRVS. Why do fees vary? What are the key determining factors?
Weegy: he Omnibus Budget Reconciliation Act of 1989 made several changes to physician payments under Medicare. Firstly, it introduced the Medicare Fee Schedule, which took effect in 1992. [ Secondly, it limited the amount Medicare non-providers could balance bill Medicare beneficiaries. Thirdly, it introduced the Medicare Volume Performance Standards (MVPS) as a way to control costs.On January 1, 1992, Medicare introduced the Medicare Fee Schedule (MFS), a list of about 7,000 services that can be billed for. Each service is priced within the Resource-Based Relative Value Scale (RBRVS) with three Relative Value Units (RVUs) values largely determining the price. The three RVUs for a procedure are each geographically weighted and the weighted RVU value is multiplied by a global Conversion Factor (CF), yielding a price in dollars. The RVUs themselves are largely decided by a private group of 29 (mostly specialist) physicians—the American Medical Association's Specialty Society Relative Value Scale Update Committee ] (More)
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Asked 11/22/2011 9:57:15 PM
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