Insurance Contract Negotiation Services

At Practolytics, we offer a service that helps healthcare businesses talk to insurance companies better. Insurance contract negotiation services are made to get healthcare providers more income for their work and better deals. With our help, practices usually get 10–20% more money back.

Here’s what’s important:

We look closely at medical insurance companies and compare them to get the best deal.

We make a special plan for each healthcare business based on what they do and where they are.

We handle all the paperwork and talking to get the best deal.

Our team uses information, know-how, and legal smarts to save you money and make the process easier.

So, if you’re a healthcare provider, let’s talk about getting you a better deal from health insurance companies. We’re good at it and keep things simple and professional. Engage in expert-aided contract negotiation services.

Common Challenges in Payer Negotiations

The Contract negotiation process at Practolytics

Facing common troubles when making deals with payers can cause problems for companies that give services. Challenges in payer negotiations often come from not being treated fairly and not having all the information.

The common challenges in contract negotiation include:

Hard-to-read price lists and confusing ways to get paid back.

Slow or no answers when asked to talk about money.

Different rules with each payer, make it tough to keep track.

Many service providers get paid less than others around them because of bad deals.

Expert help can take these troubles and make them into good chances for businesses.

LET'S CHAT

Insurance Contract Negotiation Services Process

The process of insurance contract negotiation services at Practolytics is detailed, follows the rules, and gets good outcomes. We have a way of doing this that focuses on numbers, written agreements, and what each insurance company wants.

Here’s what we do:

Look at current processes: We check your present contracts to see how much money they bring in.

Compare with others: We look at what is usual in the business and what insurance companies pay in your area.

Make better offers: We create strong proposals to ask for changes that benefit you.

Talk to the insurers: We have direct discussions with the companies.

Make sure it's all correct: A legal team looks everything over, and you get the final say.

If you go with our contract negotiation services process, most offices we work with get a 12–18% higher payment rate.

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Why Choose Practolytics for Insurance Contract Negotiation Services

Optimize Healthcare Payer Contract Negotiations with Practolytics!

As one of the best contract negotiation companies, Practolytics has shown time and again that we can help you get better deals with payers. We’re known for using data and knowing the payer’s world to get good results.

Why choose us?

We're good at what we do, with a success rate of over 95%.

We're experts in both traditional payment methods and newer value-based ones.

You'll always know what's happening with clear and quick updates on how the negotiations are going.

We work well with both small, independent offices and big groups with many specialties.

We're not just there to negotiate. We're on your side, fighting for your success in the long run.

LET'S CONNET

So, let’s keep it simple and to the point. We’re one of the top contract negotiation companies that helps healthcare providers get better contracts with insurance companies. We have a great track record and use straightforward methods to get the job done. We’re good at working with all sizes of medical offices, and we’re totally committed to making sure you come out ahead.

Benefits of Insurance Contract Negotiations

Effective insurance deal talks are really important for a business like a doctor’s office. It can help you make more money and grow bigger. Whether you’re making new agreements or looking at old ones, it’s a big deal.

Here’s what’s good about it:

You get more money back, which means more money in the bank.

The terms of the agreements are better, with not so many rules.

Spend less time worrying about contracts so you can focus on other important stuff.

Get along better with the companies that pay you, which is good for the future.

Most of the time, places that work with us see a big jump in what they actually get paid, like 15-25% more. We make sure our strategies for talking to medical insurance companies are good for now and for later.

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Customer stories

Practolytics has been invaluable to our practice since October 2022. Their expertise in coding guidance and provider audits has given us more confidence in the way we operate. Their team is not only knowledgeable but also incredibly supportive providing clear and concise guidance tailored to our specific needs. Their compliance audits have been thorough and insightful, helping us to identify areas for improvement that could prevent financial losses while also providing opportunities for further provider training. I highly recommend their service to anyone looking to enhance their billing and coding practices.

Carol Raugust – Practice Manager Platinum Hospitalists

Customer Stories

I have been a very satisfied client with Practolytics for nearly 5 years now. As you would expect, they are collecting the money that we have worked so hard for. We like the fact that they share our passion for data. We both approach our common issue i.e., how to collect money from a data centric viewpoint, and this drives improvement. The team is always willing to listen to us and make changes if necessary. Through the years we have asked for help with various office activities from credentialing to prior authorizations to procurement of outside medical records. Yes, these were add on-services, but outsourcing these activities to their team has been a winning solution that has intertwined the billing team into the success of our practice. These add ons have been a good value for us too. Lastly, we have easy access to one of the principal partners on the billing team, and the response time has always been excellent. Thank you! Practolytics!

Guy Lerner – MD Specialist in Pain Care, Kentucky

Customer Stories

We have been working with Manik and the rest of his team since August 2015. At that time, we were a clinic in need of guidance, in terms of credentialing, understanding the claims process and optimizing the use of the technology and stabilizing cash-flow. The team as a whole spent many hours upfront working to get everything moving smoothly and also developing relationships with most insurance companies. Manik’s hard work & dedication paid off as our practice more than tripled in visits, and we no longer had to tell the patients that we aren’t in the network. This more than anything has allowed us great patient flow and continued steady growth.

Robert Gass – Owner Care Physical Therapy, New York

Customer stories

We are a solo orthopedic practice in North Carolina and our relationship with Practolytics started in June 2015. They have staff members who are always willing to help. They work very hard to make us happy and I appreciate all that they do on a daily basis. They take out the worry of getting payments and always follow up with insurance companies. I found the customer service to be unsurpassed. All phone calls are returned and our questions are answered in a thorough and timely manner. The monthly reports are easy to read and provide a quick assessment of the health of the practice, including the company’s account receivables. When I need advice or am unsure of something, it gives me comfort to know that they are just a phone call away. Switching to Practolytics was truly one of the best decisions that I have made for our practice. I truly look forward to a longtime relationship with the staff at Practolytics.

Rekha Parikh – Administrator Orthopedic Solutions & Sports Medicine Center, North Carolina

Customer Stories

I started a new practice approximately 5 years ago. I have used Practolytics for my billing services over this entire period. I have also used them for integration of collections, adding new providers and DME. They have been excellent and are also part of the reason why I am so successful. They are very knowledgeable about billing. I not only see patients in clinic but also at the hospital and nursing home and also do surgical procedures in and out of the office. I have been very impressed with their level of skill and knowledge. They also do very good on communication. I would highly recommend them for any of your billing needs.

Dr. Nicole Cupp – MD Advanced Podiatry of Bartlesville

Customer Stories

FAQs about Contract Negotiation

Do you help in out-of-network negotiations?

We’re here to help with setting prices outside the network, solving payment disagreements, and handling special cases where patients need to see certain doctors.

Can you help with both new contracts and the renegotiation of existing ones?

Yes, we help start new contracts and also make sure they’re good when it’s time to renew them.

How often should insurance contracts be reviewed or renegotiated?

We look at these deals at least every 2 years or when things aren’t going well with the insurance companies.

What types of insurance contracts can be negotiated?

We deal with agreements for business insurance, special health programs, and when patients use doctors not in their network.

Are there legal risks in negotiating insurance contracts?

We always check with the law to make sure we don’t do anything wrong.

Can these services help me exit a contract safely?

Of course, we make sure everything is done right and you don’t have to worry about breaking the rules or facing legal problems.

How much do contract negotiation services cost?

Costs vary based on how big the job is and the size of your business, but you often make the money back quickly.

Will the negotiation service represent me directly to insurers?

You can trust us to handle all the talking and to make sure that your business is always shown in the best light.

How long does the negotiation process take?

The time it takes to get a new contract sorted out is usually between a month and three months. It depends on who you’re working with and how complex the deal is.

Do these services help with value-based care contracts?

We don’t just do one type of deal; we work on both the simple ones where you get paid for each thing you do and the more complicated ones that pay based on the results you achieve.

Can contract negotiations help reduce administrative burdens?

For sure. Having contracts that are easy to understand means less arguing and less work to deal with after the job is done.

What are the financial benefits of using contract negotiation services?

When it comes to getting paid more, businesses can usually see their money go up by 10-25%. This all depends on who they work with and what they specialize in.

Can I negotiate my reimbursement rates with insurance companies?

Yes, it’s highly recommended. Companies have the power to talk to their partners about changing their agreements from time to time.

Why should a physician consider professional help for contract negotiation?

Experienced negotiators are good at finding secret chances to save money and getting better deals than what most companies can get for themselves.

Contact Us to Maximize Your Insurance Contracts

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