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The use of relative value studies in the determination of veterinary fees
Author(s) -
CLARKE RE
Publication year - 1988
Publication title -
australian veterinary journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.382
H-Index - 59
eISSN - 1751-0813
pISSN - 0005-0423
DOI - 10.1111/j.1751-0813.1988.tb14261.x
Subject(s) - resource based relative value scale , relative value , value (mathematics) , liberian dollar , service (business) , schedule , scale (ratio) , efficiency , business , veterinary medicine , conversion factor , resource (disambiguation) , component (thermodynamics) , actuarial science , computer science , marketing , medicine , economics , statistics , mathematics , finance , management , geography , computer network , cartography , estimator , physics , quantum mechanics , thermodynamics
SUMMARY: This paper discusses the methods which veterinarians in Australia use to calculate their fees and charges. Problems associated with these methods and the tendency to undervalue the professional component of veterinary services are discussed. The paper introduces the concept of a relative value study of veterinary professional services within Australia and recommends the development of a relative value scale and conversion factors, based on appropriate resource cost accounting methodology, as a method to quantify veterinary professional service charges. A relative value scale is a table of “weights” that defines the relative value of procedures or services one to the other. A conversion factor is used to change the relative value unit to a dollar price and thus convert a relative value scale to a fee schedule. The Australian Veterinary Association is suggested as the most appropriate organisation to initiate and co‐ordinate the research necessary for the development of these recommendations on a national basis.