Final answer:
A fee schedule is a comprehensive listing of fees for medical services, used to standardize payments across providers and insurers. Its enactment varies by country, but in the US, the current Medicare fee schedule was established in 1992, introducing the RBRVS to determine service pricing.
Step-by-step explanation:
A fee schedule is a complete listing of fees used by Medicare to pay doctors or other providers/suppliers. This comprehensive listing is used by insurance companies and other healthcare plan administrators to determine the amount that healthcare providers are paid for services.
The concept of a fee schedule was enacted to standardize the payment method for medical services across different service providers and insurers. It helps streamline the billing process and ensures transparency in how payments are determined. Fee schedules can vary based on the insurance plan, geographical location, and the type of healthcare service being provided. They are an integral part of the managed care system and can affect the cost-control practices of healthcare providers.
The specific enactment date of a fee schedule can vary depending on the country and the healthcare system in question. However, in the United States, the current form of Medicare's Physician Fee Schedule was enacted in 1992 as part of efforts to reform payment systems and control healthcare costs. This enacted system introduced the Resource-Based Relative Value Scale (RBRVS), which is the methodology used to determine the pricing of medical services based on the resources necessary to provide them.