In this week’s CodeCast Ms. Fletcher discusses the “art” of negotiating payer contracts. Whether you are a novice or a seasoned negotiator, payer contracts can be complicated.
In order to sustain viable revenue, it is prudent to analyze and effectively negotiate healthcare payer contracts. Today’s discussion turns to “cost analysis” and how to effectively negotiate contracts: not only for peace of mind that your revenue is protected but that your reimbursement also accurately reflects the market and your individual needs as a practice/provider.
Even if a practice is run efficiently, and has low overhead, if payer contracts are not properly negotiated or worded, it can result in a loss of revenue. This is “The Business of Medicine”. It is not personal, but it is your livelihood. That is why you must make sure that there are no payment inequities within your contracts, and that you have the tools to effectively negotiate with your insurance payers.
Join us as we continue to “Take your practice to the next level”.
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