The rate negotiation process can seem like a daunting task. Especially when you feel like your future rests on successful negotiation with your private payer plans. Nevertheless, if you utilize your data effectively, you’ll be amazed at how it will revolutionize the management and negotiation of your payer rates. Successfully negotiated payer contracts are an essential part of a sound financial strategy.
Leveling the Playing Field
Unfortunately, when physician practices negotiate contracts with payers it is rarely a level playing field. Insurance companies have vast amounts of data and sophisticated modeling tools to give them a tremendous advantage in negotiating rates. Conversely, health care providers often lack sufficient analytical tools and experience when it comes to contract knowledge. These insufficiencies can end up costing the practice millions of dollars.
In order to level the playing field, providers must utilize their billing and contract data to analyze proposed rates and their effect on a practice’s top line. In this webinar, we will step you through the process of improving your practice revenue through data-powered payer contract negotiation. You will learn how to use your own data to analyze proposed rates, better negotiate and understand the effect on the practice.
Watch this to webinar to learn how to up your payer rates game by:
- Aggregating your clinical and financial utilization data
- Analyzing costs and quality measures
- Identifying inefficiencies & opportunities