Which factor should be considered when changing a fee schedule?

When considering a fee schedule change, competition in the market is a crucial factor. Understanding how your fees compare to those of similar services in the area allows an organization to remain competitive and attractive to potential patients. If your fees are significantly higher than competitors’, it may drive patients to seek care elsewhere, ultimately affecting revenue. Analyzing competitors' pricing can provide insights into what patients are willing to pay and help ensure that the services offered are aligned with market expectations.

While employee satisfaction, patient retention rates, and insurance provider preferences are important factors to consider in overall operations, they may not directly influence the need for a fee schedule adjustment in the same immediate way that market competition would. The primary focus in this scenario is on pricing strategy relative to competitors to maintain and grow the patient base.