The first of the year is usually when vaccine manufacturers increase their prices therefore, it is important that practices evaluate and update their fee schedule.
Practice Tips
Here are some helpful vaccine management tips to remember:
- Tip 1: Consider purchasing extra vaccines before the price increases go into effect it’s a great way to save money.
- Tip 2: Update and review your fee schedule to make sure you are charging more than the cost of the vaccines. The AAP Business Case for Pricing Vaccines recommends charging between 15%-25% above cost.
- TIP 3: Check your invoices to make sure that pricing is accurate. CPP members please contact us immediately if you notice that your CPP discounted pricing is not on your invoices.
- TIP 4: Check your vaccine payments this spring to make sure they have increased as expected.
- TIP 5: Once a year complete a full financial analysis of both your cost and payments, and address issues with major payors. If you need support with this the CPP team is here to help.
Questions
CPP has many resources to help you navigate these price changes. Please don’t hesitate to schedule a time to speak with us. We are here to help however we can!
