Do you ever look at your collections per previous month’s rvus? Why would you look at that? Well there are several good reasons.
1. Most physician fee schedules are based on some multiple of the Medicare RVU fee schedule
2. Tracking payment per RVU can quickly tell you how well your staff are doing at collecting the expected payment RVU.
What is a good number? The exact number depends on your location in the country. In general, Medicare is paying $34.0376 per RVU. If your practice is collecting less than that amount and is not heavily Medicaid, you should be aware that you need to look at your managed care contracts to see if you can get them to pay at least Medicare’s rate. Otherwise, your commercial insurances are being subsidized by your Medicare patients or you need to have someone look at your billing service or department.