Practice Strategy Tip:  Evaluating your immunization fees for 2019

Most vaccine manufacturers have an annual price increase typically occurring between November and 

March. Independent practices must evaluate their fee schedules during this time as to not lose revenue when new prices go into effect. 

Below are a few pointers to be sure your practice is ready:

  • Determine the new price your practice will charge based on the new price of the vaccine. If you have separate fee schedules for commercial payors and self-pay patients, be sure to review the price for each schedule.
  • Update the vaccine price in your charge master for the day the new vaccine price from the manufacturer goes into effect.
  • Most commercial payors update their vaccine reimbursements every quarter. Therefore, watch your remittances to make sure payor reimbursements increase at the same rate as the cost of the vaccine.

Lastly, do an internal analysis to determine if your practice can afford to stock up on vaccines before the price increases. This will help your practice weather the time between the price increase and the reimbursement increase.

Have practice questions? Call Amanda at (843) 973-2711.