16 Aug 5 Top Reasons Doctors Need Contract Review and Negotiation Services
Contract review and negotiation is the last thing on doctor’s mind when s/he is busy providing quality care to patients. That is why many doctors are now outsourcing this to reputed practice management consulting firms that have highly accomplished medical contracting and credentialing experts.
IMPROVE YOUR BOTTOM LINE
Often doctors would put off raising fees or accept all insurance plans just out of concern for the patients. All contract negotiations may not be successful. That is why firms, such as, Medical Practice Management Resources (MPMR), offer contract review and negotiation services to help you with this process and improve reimbursement for your services.
Professional practice management companies have experts for contract review and negotiations, credentialing, and practice management consulting. Doing this on your own, while managing your medical practice, can cost you precious time and energy.
Many offices have never renegotiated their contracts, which could get them additional revenue that could greatly impact your practice. Medical contract experts at practice management companies not only schedule renegotiations at contract renewals, but we also work to maximize your contracts during the term.
Payer evaluation, contracting, and renegotiations are critical to collect and retain as much revenue as possible. Successful renegotiation alone can yield 10 percent annually.
COMPLETE RANGE OF SERVICES
Contracting and negotiating services by practice management firms include:
• Payer Contract Evaluations & Negotiations
• Annual Insurance Renegotiation
• ASC Contracting and Negotiation
• Renegotiation of Contracts
Credentialing is a time and effort intensive process. Credentialing services can help stabilize and increase revenue by ensuring that credentialing is done properly and in time. MPMR credentialing services include practice start-up, credentialing maintenance, physician insurance enrollment, nurse practitioner and physician assistant credentialing and Medicare enrollment.