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
Negotiation tips to help physicians land better deals
Negotiation tips to helpphysicians 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, its 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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