Set Your PF Right: The Ultimate Guide to Setting your Professional Fees for your Medical Practice

by Elizza S. Senseng, MD, FPPS,

This course  is about  building  the dream practice  you pictured  with guided  information on decisions to make   especially with the very basic yet significant aspect, your Professional fees. It provides information and tools that allow you to charge fees that make you happy, cover your expenses and make enough  for you to enjoy time with family and friends.  It helps you  grow a viable  and sustainable medical practice as you build a mutually gratifying relationship  with your patients who would gladly pay for your fees.  

 

Who This Course Is For

 

Is this familiar to you? 

t people have different answers when I ask about how to set PF. I am confused!”

Oh my, I was surprise I  have nothing much  left in my PF after all the  deductions and taxes!

“I was caught off guard when my patient asked for a discount. I just blurted out an amount without thinking. ”

“I love caring for patients but sometimes I feel that the PF I charge does not measure up to the complexity and stress of what I did.”

Is this what you  want instead?

I need  to find a way to have more  confidence in my pricing decisions.

“I need to figure out  how to justify my fees.”

‘Ï need to find the  right balance  between affordability  for patients and financial sustainability   for myself.’

“I need to understand the patient’s perspective  and ensure that my fees are reasonable and  justifiable.”

“I have a guide I follow when I set my PF. It’s easy ! I am happy!”

“I know exactly how much of the PF I charged  goes to me after tax. ”

“I am happy to give a PF  discount  to my patient that will make him happy too. ”

“I feel inspired to do my work  everyday !”

Set Your PF Right is  for you

Set your PF Right  is for you if  you want to create a guide that allows you to charge fees that makes you happy, covers your expenses and makes money  for you   to enjoy time with family and friends. 

Set your PF Right  fits you , if you want to say goodbye  to confusion and overwhelm of starting, build the dream practice  you pictured  with guided  information on decisions to make   especially with the very basic yet significant aspect, your Professional fees. 

Take Set your PF Right  course , if you want your practice  to grow and flourish  as you build a mutually gratifying relationship  with your patients who would gladly pay for your fees.  

If you are…

A start up doctor, just graduated from training, about to begin practice with so much knowledge to share and skills to benefit  your patient , who wants to take the right steps in shaping your practice including the most important one-  determining your fees. 

A doctor already  in practice,  who wants to take a second look at your way of  setting  fees for your services and determine  how viable is your current way of doing it

A budding  doctor  who has searched books, seminars  and asked colleagues  about how to set your professional fees  and desires to design a fee structure  that fits you and the patients you see. 

A beginner or well into your practice doctor with  a secret fear that  patients may go away  because of your fees and you’re looking to find ways it does not happen. 

You’re in the right place!

Set Your PF Right  will give you the information you need, the tools  and the  inspiration to  make your PF mutually and gainfully beneficial for you and your patients.

Course Outline

Lesson 1: Purpose, Promise  and Profit

Why clarity of purpose is key to a profitable  practice

The importance  of having a well defined promise when you price your service

7 Key questions  you must ask  when planning for profit

Lesson 2: Considerations for Setting Fees

How pricing for  products is different from setting fees  for  services and 3 things you can do about it

Professional and Ethical considerations when determining our fees

3 POVs and 3 questions  to get the sweet spot in setting your Professional fees

Lesson 3:   10 Practical Questions on PF setting 

Do patients use professional fees  as a basis for  selecting our services? 

Should I price based on the pricing around me? 

If I am new in the practice, should I price less? 

Should I charge differently online from face to face consultation?

Can I charge on top of the professional fee I get from the Health Maintenance Organization?

Who can I  waive my fees for? 

How much of a discount is okay? 

Is it okay to use room rates in charging? 

Should I include  Philhealth in my Professional Fee?

How do I know that the price is acceptable to patients? 

Lesson 4: Create your PF setting guide

How to compute for profit

How to  include taxes in determining your  professional fees

8 steps  to writing your  PF and pricing  guide

Summary of what you will get

By the end of this module, you will learn how to

  • Make  your  professional fees on point
  • Reflect in your fees what your services  are worth
  • Make patients  happily pay for your fees
  • Make your  practice  cover your expenses and earn  on top of it

Plus 

  • Easy to use templates for computation so you do not miss out on taxes
  • Easy to use ,done for you template to determine your margin and mark up when pricing
  • Readings and resources to further your  knowledge
  • Learn more from questions and answers during a scheduled  live session
  • Fun sheets you can use  as guide 
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Elizza S. Senseng, MD, FPPS,

About the Author

Dr. Elizza S. Senseng is a seasoned pediatrician with over two decades of private practice and extensive experience in managing medical enterprises. As the founding Chair and CEO of the Health Care Providers’ Cooperative, Dr. Senseng pioneered the first and  largest physician-led vaccine distribution network in the Philippines. In addition to clinical practice, she has been instrumental in developing leadership, management, and personal development modules for medical trainees  for many years at The Medical City, a healthcare institution recognized as the Hospital of the Year at the Healthcare Asia Awards  for several years. Beyond professional endeavors, Dr. Senseng  is committed to mentoring the next generation of healthcare professionals, ensuring they are equipped with both clinical expertise and leadership acumen. She is a fur mom to a poodle, loves to  experiment in the kitchen and cook  for her son, friends and family.

Why I made this course….

I was a new junior consultant   when my senior consultant requested me to cover for her and attend to her   inpatients.  I went to the hospital   to make rounds and the nurse in charge  of one patient told me that  the patient is for discharge. It dawned on me that I don’t know  how much to charge  the patient.  I did not  get to ask my senior consultant how to. I realized I never gave it a thought myself for my own patients.  I asked others how they do it and I got different answers. 

Our fees are so vital to grow and make a living out of medical practice.  I knew I needed help. Reading and asking were helpful but putting together what I learned on how to do it was too confusing for my already panicked brain. 

This course was created to handhold those who had the same experience I had. I wanted a guide then.  So, I have put this guide together for you. 

Imagine this. 

Your typical day starts with making rounds and discharging patients for the day.  You make your trip to the billing section, write your PF so instantaneously and happily, knowing you have served this patient well. You know that as you write the numbers in the PF form, it’s a well thought of figure.  Your patient? So grateful for  your service and gladly pays  for your fees.