FEE FOR SERVICE PLAN Meaning and
Definition
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A Fee for Service Plan is a type of healthcare payment model in which medical providers receive compensation based on the individual services they provide to patients. It is a traditional payment method in which healthcare providers charge a fee for each medical procedure, consultation, or treatment rendered to a patient, and the payment is typically made by the patient or their insurance company.
Under this model, a patient or their insurance provider is billed individually for each service received, and the cost of care is predetermined based on the specific medical procedure being performed. The fees charged by healthcare professionals may vary depending on factors such as the complexity and intensity of the service, the provider's expertise, and the geographic location.
A Fee for Service Plan allows patients the flexibility to choose their healthcare providers and the services they wish to obtain, as the payment is made on a per-service basis rather than being bundled into a comprehensive plan. However, it may also lead to higher costs for patients, as they may be responsible for larger out-of-pocket expenses and have to manage multiple bills for various services received.
This payment model is commonly utilized in countries with fragmented healthcare systems, where there is no overall coordination or management of patient care. However, in recent years, there has been a shift towards alternative healthcare payment models, such as capitation or bundled payment systems, in order to provide more coordinated and cost-effective care.
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