What does Fee Schedule mean? Read on to discover the definition & meaning of the term Fee Schedule - to help you better understand the language used in insurance policies.
A cost containment tool utilized in workers compensation to standardize and avoid excessive medical costs associated with claims. Fee schedules are published by most states and set down the maximum charges for various medical procedures. Medical providers are free to charge less than the maximum, and in many jurisdictions, the provider may charge more than the maximum when it can be justified.
We hope the you have a better understanding of the meaning of Fee Schedule.