Physician Fee Schedule

The Physician Fee Schedule (PFS) is a government-established list that sets the standard payment rates for medical services provided by physicians and healthcare professionals. It details how much Medicare (a government health program) will reimburse providers for specific treatments, procedures, and consultations. These rates help ensure consistency and fairness in healthcare billing across the country. While Medicare primarily uses the PFS, many private insurance plans also base their payments on it. It considers factors like the complexity of services, time spent, and resource use, aiming to balance fair compensation with cost management in healthcare.