With interest rates and other overhead costs rising sharply, being more profitable next year will prove more difficult. You’ll need a plan in place to make it happen, which requires having a well-thought-out practice budget in place before January 1. Below are our recommended 2023 fee increase and practice overhead percentages to help guide you through the process.

The first step in developing a budget for the new year is reviewing your fees. While most doctors raise fees annually, others still believe there’s no benefit in doing so since they participate in PPO plans. The reason being that PPO reimbursements are set by contract, so they’re not affected by increases in your regular fee schedule.

What they don’t understand is that the increases will be effective for all patients who aren’t in-network under their PPO plans. Also, raising fees