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relative value system

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relative value system,
n coded listing of professional services with unit values to indicate relative complexity as measured by time, skill, and overhead costs. Third-party payers typically assign a dollar value per unit to calculate provider reimbursement.


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Key features that should be incorporated into technology to enhance track and measure productivity include: * Ability to store Relative Value Units by procedure, such as Resource Based Relative Value System, so that the practice can better analyze relative value and units of productivity by procedure and physician; * Reporting capabilities that can track and summarize revenue and workflow events (e.
One conceptualization involves a dichotomy between absolute versus relative value systems.
CMS releases report on relative value system for lab fees CMS continues to study ways to establish a single national fee schedule for laboratory services, which was recommended by the IOM report on the current payment system for reimbursement of outpatient laboratory tests under Medicare Part B.
 
 
 
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