A co-payment or co-pay is the fixed amount a patient is required to pay at the time of receiving medical services. This amount is part of out of pocket expense along with deductible and co-insurance. This amount is typically determined by the patient’s health insurance policy and is usually a small portion of the total cost of care. Co-payments are common for services like doctor’s visits, prescriptions, and specialist consultations.
Examples of services which required Co-pay fee
- Primary care physician appointment
- Prescription purchase
- Lab test
- X-ray or MRI
- Specialist provider appointments
Co-pay is a term used in medical billing or revenue cycle management process (RCM). It refers to covered healthcare service that the patient must pay out-of-pocket after meeting their deductible.
CO-pay is fixed between $5 to $50 in each visit as per patients insurance plan.