Negotiation tips to help physicians land better deals

Presented by MedicalBillingStar

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.

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

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.

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.

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.

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!

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