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20Q: Fee for Service in an Audiology Practice Revisited

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1.  The author provides the following rationale for adapting a fee for service model: to differentiate audiology care from over the counter (no services) device sales to differentiate audiology care from low cost retail options so that patients understand that audiology services have value all of the above

2.  If the profession of audiology universally moves to a fee for service model and promotes it, the author believes that change will: improve transparency and increase patient trust, allow audiologists to better compete on cost, and the public will better see the value of audiology care. insurance companies will increase reimbursement for services. Medicare will cover the cost of hearing aids. all of the above

3.  Fee for service can best be described as: Bundling the cost of goods and services into one flat fee. Determining the cost of providing services to set a fee structure that meets your business goals. Setting fees based on a set multiplier of cost of goods (e.g. 3x hearing aid cost). Establishing a boutique business with a high level of premium service.

4.  Setting patient prices based on a straight multiplication of the hearing aid invoice cost: has no relationship to services provided or cost of doing business. gives the patient the best value. enables you to maximize insurance reimbursement. allows business owners to level the playing field with over the counter products.

5.  To establish a fee for service model, a practice must: ask patients how much they are willing to pay for each service, and take an average. establish the cost of providing each service in a practice by calculating total fixed costs and variable costs, and assigning fees based on that. be the low cost leader in his/her market by unbundling all services and allowing patients total choice about what to pay for. get patients to sign up for costly long term service plans.

6.  Which of the following are examples of fixed costs? payroll, computers, furniture insert earphones, otoscope specula hearing aid batteries, dry aid kits cost of product (hearing aids) and product brochures

7.  The author describes the "combined fee for service model" as: a bundled, flat fee model (all patients pay the same price). the same as 'the medical model' where every office visit is charged. partially unbundled - grouping some fees into packages. totally unbundled where all products and services are purchased separately (a la carte model).

8.  According to the author, an audiologist looking to move to a fee for service model may want to consult: an accountant a bartender a fortune teller a device manufacturer

9.  How long should an audiologist expect it would take to change a practice over to a fee for service model? a few days a few weeks a few months a few years

10.  The author makes the point that a fee for service model benefits: audiologists, but not patients. patients, but not audiologists. insurance companies, but not audiologists. patients and audiologists.