Negotiating can be intimidating, but many benefits can be gained. Not only does negotiating build relationships with payers, but it also keeps the practice top of mind among the payer’s network providers. Additionally, it gives practices the opportunity to demonstrate their value to payers while giving clarity on issues within their specialty. In the end, successful negotiations result in improved reimbursement and contract language that protects the practice’s business interests.
IF YOU CAN’T MEASURE IT, YOU CAN’T MANAGE IT
Data, Analysis & Negotiations
Our proprietary CodeToolz Contract Analyzer provides a full suite of tools and services that can help you model, negotiate, and monitor your managed care contracts. With access to a dedicated team of managed care experts, users realize the full potential of managed care contracts. With our Analyzer, our team applies best practices to analyzing your payer contracts and reimbursements to ensure you’re choosing the right contracts to prioritize and renegotiate. CodeToolz can turn your managed care contracting function from a burden into a competitive advantage, incorporating the following.
Building Payer Relationships
- Expand access to your critical healthcare services and achieve higher reimbursement rates.
- Negotiate reimbursement rates that reflect the value of your care.
- Access new managed care partnerships.
- Find contracting opportunities you’ve been missing.
Stop Unpredictable Reimbursement Rates
- Streamline your revenue cycle to get you the rates you deserve – whether re-negotiating stale contracts or going in-network for the first time.
Uncover Opportunities for Higher Reimbursement
- Determining what you’re paid shouldn’t be a part-time job. With so much on your hands already, it can be difficult to see Managed Care Contracts for what they could be – a profitable source of growth.
- We help you find windows of opportunity for new relationships and re-negotiations.
Approaching New Networks
- Find opportunities for new payer contracts and get a foot in the door with ‘closed or narrow’ networks.
SUMMARY
From the payer’s perspective, it is never time to renegotiate. Consequently, practices must be prepared to initiate renegotiation. By performing payer analytics annually, providers can stay on top of which plans and services are driving the most volume.
Keeping a payer scorecard becomes important to track against other top plans, as well as pain-points and deal-breakers that may be able to be rectified with contract language changes.
Our CodeToolz Contract Analyzer is designed to track and manage your payer contracts, analyze fee schedules, manage options for payer negotiations and increase the bottom line.