Have you registered for the Business Cost Premium?
The Business Cost Premium (BCP) is a benefit negotiated in the 2019 Physician Master Agreement for eligible physicians compensated under the Fee-for-Service payment model. Since April 1, 2020, eligible physicians have been able to receive a percentage premium on MSP fees for consultation, visit, counselling, and complete examination services in order to help cover the rising rent, lease, or ownership costs of a community-based office.
If you haven’t registered for BCP, please note the following important registration dates:
- Doctors who register by July 31, 2023 are eligible to resubmit billing claims to receive retroactive BCP payment back to April 1, 2022.
- Doctors who register on August 1, 2023 or after are eligible to resubmit billing claims to receive retroactive BCP payment back to April 1, 2023.
The above does not apply to doctors eligible under the new April 1, 2023 expansion of Business Cost Premium as they do not require retroactive approvals.
Check out the BCP page on the Doctors of BC website for information including eligibility criteria, registration forms, and how to resubmit for retroactive pay.
For specific questions about the Business Cost Premium, connect with economics@doctorsofbc.ca.