Billing Code Lists
What are Billing Code Lists?
A billing code list is a collection of specific medical procedure codes (like CPT codes) that represents the services your practice actually provides. Think of it as a personalized menu of the procedures you perform - instead of looking at every possible medical service, we focus only on what’s relevant to your practice. This helps ensure all the data, comparisons, and insights you access in Pricemedic are meaningful and applicable to your day-to-day operations.Billing code lists act as filters that customize your entire PriceMedic experience to match your specific practice.
Why do billing code lists matter?
Your active billing code list acts like a filter that shapes your entire experience on our platform. When you look at how your rates compare to other practices, you’ll only see comparisons for the specific services and procedures on your billing code list. This helps prevent irrelevant data cluttering your analyses. Market reports become more meaningful because they focus on services you provide rather than showing generic healthcare trends. When we help you build fee schedules or analyze contract opportunities, everything is automatically tailored to match your practice’s scope of work. Even our competitive analysis becomes more accurate because we’re comparing you to providers who offer similar services, giving you insights that you can actually act on in your business.Key Benefits
Focused Comparisons
Relevant Data Only
See rate comparisons only for procedures you actually perform, eliminating irrelevant information from your analysis.
Tailored Reports
Meaningful Insights
Market reports focus on your services rather than generic healthcare trends, providing actionable intelligence.
Accurate Analysis
Precise Competitive Intelligence
Compare against providers who offer similar services, ensuring relevant and actionable business insights.
Customized Tools
Personalized Experience
Fee schedule builders and contract analysis tools automatically align with your practice’s scope of work.
Default vs. Custom Lists
- Default Lists
- Custom Lists
Smart Matching SystemBy default, our system uses smart matching to determine relevant procedures for your practice. Based on your medical specialty, we automatically load appropriate billing codes based on what providers in your field typically perform.Benefits:
- Quick setup with no manual configuration
- Industry-standard code selections
- Automatically updated with specialty best practices
- Good starting point for most practices
How do I change my Billing Code List?
1
Navigate to Settings
On the Settings tab on the left sidebar, locate the billing code list section.
2
Select New List
Interact with the drop-down to select another billing code list from your availables.
3
Save Changes
Important: Click save to make the new billing code list the default for all your analytics.
Always remember to click “Save” after changing your billing code list. The system will not retain your selection if you navigate away without saving.
How can I Create or Update a Billing Code List?
Creating a New Billing Code List
1
Start Creation Process
Click “Create Billing Code List” on the Settings tab on the left sidebar.
2
Name Your List
Give the list a memorable name that clearly identifies its purpose.
3
Add Codes
Choose your preferred method for adding codes:Option 1: One-by-One
- Enter individual codes and click the “Add” button
- Perfect for carefully curating your list
- List codes in the specified format (XXXXX, XXXXX, …)
- Add multiple codes at once for efficiency
4
Review Your List
The pop-up page on the right side will display which codes have been selected.
5
Save Your List
Once done, click “Save List” to store your new billing code list.
Updating an Existing Billing Code List
1
Select Target List
Select the desired billing code list from the drop-down on the Settings tab on the left sidebar.
2
Enter Update Mode
Click “Update” to make changes to the current list.
3
Make Your Changes
Edit your list by:
- Removing codes: Delete codes that are no longer relevant
- Adding codes: Include new or additional codes
4
Save Changes
Click “Save” once you exit the pop-up page to maintain your changes.
Regularly review and update your billing code lists to ensure they accurately reflect your current service offerings and maximize the relevance of your PriceMedic insights.
Best Practices
Code Selection Strategy
Focus on High-Volume Procedures
Focus on High-Volume Procedures
Include codes for procedures you perform frequently, as these will have the most impact on your practice’s financial performance and competitive positioning.
Include Revenue-Driving Services
Include Revenue-Driving Services
Make sure to include codes for your most profitable procedures, even if they’re performed less frequently, to capture important market intelligence.
Consider Future Services
Consider Future Services
Include codes for procedures you’re planning to offer in the near future to start gathering market intelligence for strategic planning.
Regular Maintenance
Regular Maintenance
Review your lists quarterly to add new services and remove discontinued procedures, keeping your analysis current and relevant.
Common Mistakes to Avoid
- Overly broad lists: Including too many irrelevant codes dilutes the quality of your insights
- Outdated lists: Failing to update lists when your service mix changes
- Forgetting to save: Not clicking “Save” after making changes to your lists
- Single list dependency: Not creating backup or alternative lists for different analysis scenarios