The fact that reimbursement rates decline while the cost of running a practice goes up is hardly a news flash. Relatively minor details in reimbursement contracts that can ultimately add up to big bucks should not go unnoticed amid all the macrodata, however, according to a recent post on Doctor Discourse. Many changes that may seem to be random moves that your staff just has to get used to may also bring new opportunities to improve your bottom line, according to the article—provided that you know what to look for. For example, starting a discussion of upcoming changes with your payers before those changes are in effect can help you either fight those changes or strategize internal processes to soften their blow. One note: Remember that not all contract amendments require your sign-off, so read diligently. Other general advice from the authors includes conducting regular contract “check-ups” and ensuring that you’re using every ounce of negotiating leverage you have. The latter might include presenting data that demonstrate the value you bring—financially for the payer, and in terms of quality care for their plan members.
Be Vigilant for ‘Small’ Changes in Reimbursement Contracts—They Can Add Up