Negoitation Services

Contract Negotiation

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Insurance Contract Negotiating Services

Are you Aware of Negotiation Complexities ?

Do you know how insurance reimbursement contracts are signed and implemented? Whether they are new contracts or the ones due for renewal? You may not have even noticed what is contained in these contracts. Focussing on your core medical profession, you do not have the time and resources to participate in contract negotiating process. On-going enhancements and changes in federal and state regulations, coupled with expanding scope of medical technologies and clinical processes, have resulted in considerable amendments in the modality of contract negotiating.

In such scenarios, you need to be prudent and wiser by outsourcing, or rather "Right Sourcing" contract negotiating process to MedicalBillingStar. MedicalBillingStar has a network of qualified and experienced professionals who can do this job for you, and save you from the blushes.

Would You Like to Win a Losing Battle?

Due to your tight work-schedule, you tend to accept whatever the insurance companies offer. Such an existing trend ensures that the dice is heavily loaded in favor of insurance agencies. This results in losing out on additional revenue. You need to adopt a strategy to negotiate the contract on a win-win basis. MedicalBillingStar, an established and reliable vendor across the US, is well-versed in such a strategy.

Why Should You Rely on MedicalBillingStar?

Some of the key differentiators of MedicalBillingStar are:

  • Negotiated many insurance contracts across the US.
  • Created a rich database of healthcare-specific rates and contracts, which helps in quickly obtaining substantial results while negotiating or renegotiating contracts.
  • Well-versed with complex reimbursement terms, adjudication rules, and trends in public and private insurance policies.

What Do We Have in Our Kitty?

You would be interested to know how MedicalBillingStar successfully negotiates insurance contracts. Our workflow involves:

  • Extensive review of existing contracts.
  • Identify the major insurance companies dealt with, by the medical practice.
  • Analyze the top 25 medical codes billed by the practitioners.
  • Determine the reimbursement rates offered by each insurance company for these codes.
  • Compare the reimbursement rates offered by insurance agencies with the existing market rates and norms. We present the comparative analysis to the clinical/hospital management.
  • Determine the insurance companies, based on the comparison, which have to be approached for fresh negotiations or renegotiations.
  • Resolve differences with the insurance agencies amicably, with justification of clinic/hospital information (such as medical practice, team of doctors, diagnostic, treatment, and rehabilitation processes, and so on).
  • Periodically review the contracts at regular intervals, in line with the current situation.
  • Check the language of the contracts for legal transparency and ensure that there are no hidden clauses.

A Word of Caution

Don't forget that on-going increases in the overall costs of healthcare are increasing demands to further reduce reimbursement rates, jeopardising the financial viability of hospitals and clinics. Remember that negotiating for increased reimbursement rates is a technique that is manageable by MedicalBillingStar with the right tools and information.

Whenever you need assistance for your contracts, do give us a call at 1 - 877 - 272 - 1572 or fill an online form for 24x7, insurance credentialing services.

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