Why Practolytics for Contract Negotiation services?
Expert team of financial analysts to help you in the process
Relationship with provider representatives across different states
Monitoring of reimbursements across the payers
The Contract negotiation process at Practolytics
As a medical professional, your core job is to attend the patients. Allocating time & energy to the complex process of negotiating contracts with payer companies should be the least of your worries. At Practolytics we follow a diligent process of contract negotiation to provide you with the best possible reimbursement.
Struggling with contract negotiations?
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How we help businesses
Medical providers are busy in providing the right treatment to their patients. Moreover, the insurance payer landscape is too complex because of continuously changing norms, numerous players, and diverse plans. Even a slight gap in comprehending the market can effectively change the revenue cycle of the medical practices.
Practolytics strives to fill this gap by researching both medical establishment and payer entities, vis-à-vis existing financial and market trends. We create an agreement scope in view of the business objectives for maximum revenues. With our diverse network, we seek out the best payer plans for the top specialities and our team of expert negotiators chart out the contracts including favourable terms.
Optimize Healthcare Payer Contract Negotiations with Practolytics!
Good contracts with the insurance companies are one of the primary factors for any profitable practice. That’s where insurance contract negotiation services by Practolytics come to play! We work with our channel partners to give a comparative analysis of your practice reimbursements versus other practices in the same geography / state. Our expert team of financial analysts monitors various reimbursements across different payers, conduct payer negotiation, and negotiate the best rate for your practice.
FAQs about Contract Negotiation
What is a provider contract in healthcare industry?
Provider agreement is a contract between a healthcare provider and an employee benefits plan. The agreement states that the provider will accept payments from the plan for services provided to patients covered by that plan.
What is negotiated rate health insurance?
A negotiated or an adjusted rate is the amount an insurer is obliged to pay under contract for all the procedures and services a doctor or medical facility covers.
How can Practolytics help me?
We make sure that you do not have to pay an attorney to negotiate contracts ever. We take care of the entire process to give your business a positive outlook.
When should I review contracts?
You must review contracts well ahead of their expiry dates. You should notify the company if you want any changes or cancellations.
What is the timeline required to negotiate the rates?
It typically takes 3 to 4 months to get a favorable outcome, based on the practice location, demographics, suite of services provided by the practice etc.
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Resources
Wound care billing requires a series of administrative activities like documentation with proper detailing, accurate coding etc. Check out the e brochure to know more about wound care billing, documentation requirements and also get some ready reckoners to keep handy.
Not negotiating the payer contracts properly can result in revenue loss. Read to know about the importance of negotiating the contract terms and the key things to consider.
Are you on a look out for industry updates?
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Mastering Healthcare Payer Contract Negotiations: Securing Your Financial Sustainability
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Upon signing a contract with an insurer, there are a number of factors to take into account.
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The Rapidly Changing World of Practice Management: Negotiating Payer Contracts
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