What is the term for the amount charged for each service provided in a medical practice?

The term "fee schedule" refers to a comprehensive list that outlines the amount charged for each specific service provided in a medical practice. This schedule serves as a guideline for billing and payment processes, detailing the fees associated with various types of medical treatment and procedures.

A well-defined fee schedule is essential for effective financial management in healthcare, enabling practices to establish consistent pricing, streamline billing operations, and enhance transparency for patients regarding the costs of their care. By having this structure in place, medical practices can ensure they are fairly compensated for the services rendered, facilitate insurance reimbursement processes, and reduce confusion over costs for both providers and patients.

This contrasts with other terms. For example, "billing rate" is often a more general term and may not account for the detailed, itemized services a fee schedule provides. "Cost analysis" usually involves evaluating the overall expenses of running a practice rather than specific charges for services. "Service charges" can imply additional fees for specific services but lacks the formal structure and detailed nature implied by a fee schedule.