How your previous practice details can impact your fee
Your membership fee is based on membership details from the current and three prior Policy Periods, as shown on your Member Benefit Statement.
These include:
• your category and practice basis
• your annual gross billings and/or salary or hours for practice not indemnified by your employer
• your extensions of practice (e.g. Minor cosmetic services, Spinal surgery or Bariatric surgery); and
• your practice state/territory.
This means your membership fee responds to how your practice changes over time. Each year, your membership fee can increase or decrease, reflecting the changes in the healthcare you provide for the current year and the past three years.
If you are moving to a higher risk classification, such as:
• increasing your annual billings (if your basis is gross private billings / salary), or
• completing your specialist training and start billing as a specialist,
you can expect your membership fee to see a step up until your practice details have been the same across the current and three prior Policy Periods.
The short video below walks you through how your membership fee can “step up” when your billings have been increasing over time.
The opposite occurs when you move to a ‘lower’ risk classification, and you can expect to see a stepped decrease in your membership fee over time. This includes practice changes such as:
• commencing employer indemnified practice only, or
• reducing your annual billings for practice not indemnified by your employer
The examples above are provided for illustrative purposes only, to demonstrate movements of membership over time, and are not indicative of actual membership fees charged. Other factors may impact your fees as outlined in the MIPS Member Handbook.