Almost every physician arrangement requires FMV documentation, but not every contract requires a formal valuation. When used correctly, high-quality market data in conjunction with a consistent, well-managed review process can empower organizations to internally document FMV using market data to streamline the FMV process.
How do provider organizations thoughtfully structure their FMV process? How are resources appropriately leveraged? This guide will provide both the structure and best practices to run an efficient, compliant and cost effective FMV process, whether you’re redesigning internal guidelines or simply enhancing your current process.
Simplify your FMV process with these five steps:
- Test for commercial reasonableness
- Collect relevant information and contracts to ensure you take into account all payments made to each physician, as well as your organization’s overall strategy for physician compensation
- Determine the appropriate service and scope to assess the appropriateness of payment rates
- Define the most appropriate payment range for your organization
- Document Compliance
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