Many physicians believe that little can be done about declining reimbursements from managed care payors. They decide that the only way to improve their financial position is to cut costs and work longer hours. Nothing could be further from the truth!
Whether you are just starting or have an established practice, negotiating better rates for your services can enhance your revenue. It can be done, and you don’t have to wait until your contract is up for renewal to renegotiate the terms. You can request renegotiation with any payor at any time, and 80% of the time payors will comply.
Unlike “governmental” payors, commercial insurers negotiate! If you simply sign on the dotted line and give no regard to the many options available to you, you may miss ongoing revenue opportunities for years to come.
The managed care consulting team of MDmanagement can help. We review your current contracts to discover ways that can improve your income. We then provide you with feedback on your current contract as well as a detailed plan on how to reduce unnecessary risks and improve your income.
The benefits of a managed care contract review by MDmanagement:
- Learn how you can receive top dollar for your services
- Discover ways to dramatically speed up insurance reimbursements
- Reduce liability and hidden obligations in existing contracts
- Become more competitive in your marketplace
- Stop giving away discounts you didn’t agree to
- Reduce limitations on your hiring decisions
- Realize continued revenue improvements