Would you welcome a 3% to 10% boost to your revenue stream? This is the opportunity for hospitals and physicians practices that effectively negotiate contracts with payers during a time of severe financial stress. But it doesn't happen automatically. You must demonstrate the value you deliver to insurance plan members, including quality care that results in fewer hospital readmissions. Then you need to leverage this information to negotiate terms (paying special attention to the fine print!) that lead to the best possible long-term results for your organization.
If contract negotiating seems intimidating, plan to join us for this ICD10monitor webcast. Experienced negotiator Terry Fletcher will share strategies and methods you can use to ensure that your payer contracts more closely align with your organization's best interests.
Why This is Relevant:
Anytime is a good time to upgrade your negotiating skills. But current conditions — particularly the severe financial impact of the COVID-19 pandemic — make this the ideal time to learn how to tilt the terms of payer contracts more in your favor. Keep in mind that payers may attempt to use COVID-19 and future public health emergencies to their advantage. It's time to level the playing field and strengthen your organization's position by gaining a clear understanding of contract language and proven negotiating techniques.
- Why it's essential to get an advance understanding of the authority level and limitations of the payer representative who will be negotiating with you
- How to involve physicians and your coders and revenue cycle management staff into your negotiation process
- The impact of state laws on contract terms, including rules governing payment timelines and takebacks
- Approaches to ensure that payment rates are clearly spelled out for the duration of the contract
- How to recognize and respond to protection clauses pertaining to a public health emergency
- Why you need to spell out what you will or won't concede during negotiations
Who Should Attend:
This webcast will be most relevant to professionals involved with contracting, as well as physicians, coders, administrators, practice managers, C-suite executives and contracting consultants.