Administering flu vaccines can provide a net profit to practices. Below are a few tips to manage the flu vaccine season and not lose valuable profit margin on this important part of pediatric and adult practices:
- Know the correct administration code. Most injectable flu vaccines are billed with a 90460, 90471, or 90472. Nasal flu vaccines are billed with 90473. However, consult the coding guide for specific directions. Admin codes are an intergral part of the flu vaccine financials.
- Ask for current flu vaccine reimbursement from your major payors. Practices will want to periodically spot check to make sure they are being paid appropriately. Practices should not accept reimbursement lower than the flu vaccine cost.
- Market the availability of flu vaccines to patients while in the office. Print signs for high visibility places and train team members to offer flu vaccine at each encounter.
- Understand the flu return policy for unused doses. Do not throw out vaccines at the end of the season before reviewing the return policy. GSK will provide a rebate to customers who return unused flu vaccine.
- Watch for your flu rebate from Vaccine Connect. If you order $5,000 worth of GSK flu vaccine (net returns) in a season, you will receive a 1.25% flu vaccine rebate on your purchase in the following fall season.
Pro Tip
For the best upfront pricing and guaranteed availability, prebook your flu vaccine for next season while still vaccinating for the current season. Prebook for 2019-2020 will start in just a few months!