Medical Cost Reduction is about more than simply lowering costs on healthcare services. Lower prices are important, and the Negotiators at IWMC know how to negotiate the best pricing structures for our clients. However, three steps cycle are key to cost reduction.
More than Just Lines on a Map: Best Practices for U.S Bike Routes
Medical Cost Containment Services
1. Cost Containment
Services
International Claims Negotiation
For Healthcare Entities
1
2. HOW CAN WE IMPACT
YOUR BOTTOM LINE
• Healthcare • Speed-up claims
reimbursement costs; process;
• Get rid of time zone • Connect payer to
or language issues; healthcare provider;
• Minimize medical • Brand value increased.
costs from out-of-
network payers.
2
3. TRADITIONAL BILLING PROCESS
Out-of-network claims are Bill
typically highly inflated, charged
causing medical costs to
rise significantly
Billing
process
+ 15%
Healthcare
Payer
Billed
Medical
Billing
Company
Physician
3
4. STEP I: REVISE ACCOUNTS
What has been billed?
What should have been billed?
15.0
11.3
Room for
discount
7.5
3.8
0
Billed National Medicare
4
5. STEP II: START NEGOTIATIONS
1. IWMC negotiators check database The typical
discount granted
2. Healthcare provider is contacted using a first
3. Negotiations begin IWMC is
negotiation
about -22%.
4. Conclude agreement taking the focus off the bill.
Our aim is to ensure you only
pay for services rendered.
5
6. STEP III: LOWERED FINAL BILL
14.0
+ 15% - 22%
10.5
7.0
3.5
0
Settlement
Billed
Standard
6
7. BENEFITS
• Save on reimbursement costs
• Hospital claims are paid quicker
• Better cost control
• Risk free
Save time and money!
7