The CodeToolz Team is already hard at work preparing for 2022. We’ll help you regain control of your payer contracts and take your contracting efforts from burden to competitive advantage. It’s critical for physicians and practice administrators to fully understand payer contracts to ensure your organization is properly reimbursed for services. In today’s healthcare payment landscape, every dollar counts.
Decreasing reimbursements seem to be the name of the game for payers. Today’s contract environment is tougher than ever and requires a specific skillset.
In addition, rates are not renegotiated without significant analysis and effort. It’s easy to let payer contracts fall off your radar, “file and forget”. With the potential for declining reimbursements, practices that do not monitor contracts and reimbursements could be foregoing thousands of dollars. This simple fact demands a proactive approach to your payer relationships.
Ensuring maximum reimbursement is always at the top of a healthcare provider’s mind. But we find too often that many providers are leaving money on the table with inefficient and infrequent payer contract management.
Negotiating contracts and fee schedules regularly is essential to optimizing reimbursement, and ultimately, yields a significant return on investment to your organization. Many of our physician clients see average payer reimbursement increases of 10% – 15% (results will vary).