To stay in the business and handle increasing overhaed costs it is important that practices learn to negotiate effectively.For more info visit us http://www.medicalbillingstar.com/payer-negotiation.html
Basic principles involved in the traditional systems of medicine PDF.pdf
Negotiation tips to help physicians land better deals
1. Negotiation tips to help
physicians land better deals
Presented by
MedicalBillingStar
2. Stung by the recent reimbursement
cuts?
• Physicians are moving away from independent practice
and gravitating to employ with hospitals or
supplementary large firms.
• Though this change frees doctors of the burdens of
running a business, it's critical physicians understand
their rights and responsibilities before agreeing to an
service contract.
3. Negotiate tough…
• Doctors have traditionally shied away from negotiation
rates with payers.
• Drowning under paperwork and making long phone
calls, are enough to scare the most persistent of
physicians
4. Getting the facts on paper!
• Most medical practitioners make the mistake of sending
out proposal letters that do not include key facts.
• Including a brief introduction to your practice, patient
population and expectation is important.
5. What color does your insurer like?
• But for successful payer negotiation, knowing your
insurer is important.
• What are the cpt codes that are more likely to be
reconsidered?
• What are the documents your insurer might require?
• Every, information, is key to shorten the turnaround and
back and forth phone calls.
6. It isn’t mission accomplished!
• You’ve struck the deal.
• Time, to, celebrate and hope for better collections.
• But it is also important you have the details of your
negotiation summarized.
• It will help you to inform your billing team about the
changes.
7. Conclusion
• To, inform your patients about the revised rates.
• And yes it comes in handy when working on your next
set of contracts.
• As with all else it is a constant work in progress!