The reimbursement rates that healthcare providers receive from commercial insurance companies is typically based upon a contract negotiated between the two parties. As independent healthcare providers face increasing competition, one of the biggest challenges facing these companies is that hospital systems and other large healthcare companies have greater bargaining power when negotiating reimbursement rates. This bargaining power discrepancy results in lower reimbursements rate for independent providers, which can deleteriously affect gross revenues.
Payor contracting consulting assists healthcare companies overcome this bargaining power discrepancy by providing recommendations on ways to more aggressively negotiate higher reimbursement rates from commercial insurance companies.
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5 Keys to Effective Healthcare Consulting
By Gregory Seigel, J.D., LL.M.
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