Many physician and believe that payment contract terms are non-negotiable; the truth is any Insurance carrier is willing to renegotiate your fee schedule if you can save them money. We help you accomplish this by doing a Practice review and putting together all the facts we need to negotiate. We see the Insurance carriers as our business partners NOT the enemy. The reimbursement costs and fees paid for claims are just one aspect of your payer contracts; looking at the whole picture and understanding that you don’t always have to accept the proffered terms can help you increase your income without increasing your workload.
Key Elements of Managed Care Contract Negotiation
If your practice is struggling with existing payer contracts or you want to negotiate a new fee for service fee schedule we can help in a variety of ways.
Show your proven history of quality: The care you provide your patients can result in fewer hospital admissions, better patient adherence to medication and an overall healthier client base. This level of patient care also cuts costs for payers; your track record and history should be part of the negotiation process, with concessions given to your practice for your efforts to improve wellness and cut costs.
Beyond dollars and cents: While the actual monetary terms matter greatly, there are other contract considerations to address. How complex is the claims process and how rapidly will payments be made?
Preauthorization and claims workflow: Can you negotiate a faster turnaround time on your payments – or eliminate some of the time it takes to get preauthorization for some patients and processes? Reducing these times can speed up the payment process and provide a healthier flow of capital to your practice each month.
Get top dollar: Do you truly understand the contract – or are there hidden fees or discounts that may not be spelled out in plain language? You only negotiate your contracts once in a while; a third party expert already knows what to look for and where you can request changes to maximize the income you generate from your practice.
Payer Contract Negotiation Solutions
CoreMD Partners can perform a full audit of your existing contracts and ensure that you are truly getting paid enough for your efforts. By bringing in an expert, you can be sure that we will address all of your practice needs.
The CoreMD Partners team excels at negotiating the best possible terms for our physicians and healthcare clients. With a long history of contract negotiation experience and a deep familiarity with both the process and industry acceptable outcomes, our team works hard to get you everything you deserve from every deal you make.
If you’re tired of having to work harder and see more patients just to maintain your practice, then a look at your payer contract could reveal ways to increase your income without increasing your workload. Contact us to set up a consultation and learn what our team of negotiation experts can do to rejuvenate your business and ensure that you get top dollar for your efforts.