State Sees 14% Drop in Professional Services Costs After Fee Schedule

States that are struggling to keep a lid on medical costs may want to take a look at Virginia's fee schedule, which has cut costs for professional services significantly in just one year. In a webinar held this week, the Workers Compensation Research Institute reported that since Virginia's much-debated fee schedule took effect in January 2018, reimbursement for physicians and other providers dropped 14% from 2017 prices. For some services, such as minor radiology, pain management injections and emergency treatment, the prices dropped by more than 20%, the institute's r...