What are fee schedules?

A fee schedule is one of the primary points of a contract with a PPO network. The network will establish a fee schedule. It may be a fixed amount, i.e. $32 for a code 98940, or it may be based upon another schedule, i.e. a percentage of Medicare fee schedule. Each contract is different and there is a wide range of fee schedules. Some are very low, and the trend is to make them lower. This trend is being fueled by chiropractors who are continuing to agree to lower and lower fee schedules. For example, there are chiropractors who are willing to accept less than $17 for a code 98940. This is only about 2/3 of Medicare. The lowest fee schedule you accept will eventually be the best you will receive. So be careful in what you accept; you probably will not recoup the difference in volume.