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How do the fee schedules work?

What is a fee schedule and how does it work? The fee schedule is a system of accounting where the insurance company pays the IA Firm a fee per every claim closed. The amount of the fee is based on a graduated schedule or percentage of the final claim settlement amount. Once paid to the IA Firm, the fee is then split between the firm and the individual independent adjuster who actually handled the claim. New adjusters just entering the field will likely hear references to a 60% or 70% fee ...

What is a fee schedule in medical billing?

A fee schedule is a complete listing of fees used by Medicare to pay doctors or other providers/suppliers. This comprehensive listing of fee maximums is used to reimburse a physician and/or other providers on a fee-for-service basis.

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