Have you ever been curious what the charges for a day would have been if everything had been charged out at your full office fee schedule?
For example, when your office is contracted with an insurance plan, you probably post the lower insurance fee to the Ledger. What is the difference between what you actually charged and what you would have billed if that insurance fee had not existed?
You can spot the difference between the charged fee and full fee in your Day Sheet report grand totals. In your Day Sheet report options (found in the Office Manager > Reports > Management > Day Sheet), select Compare to Fee Schedule and choose your UCR fee schedule.
This option adds two additional lines to the Day Sheet Report:
- Compared To (the selected fee schedule) – if all procedures listed were billed out at the selected fee schedule price, this is what the total production would be
- Net Difference – the difference between “Charges” and “Compared to (the selected fee schedule)
The numbers may be more useful if you run the report for certain billing types only, rather than for the entire practice. For example, select billing types that represent accounts with PPO plans only.
For additional information read: Should You Use Write Offs or Fee Schedules when Working with PPO Plans?