Adriaan Epps: 10 Steps to More Profitable Managed Care Contracts

1. Collect as much data as possible before negotiation
2. Start negotiating six months before your contract renewal date
3. Isolate the codes that affect your profitability most significantly
4. Aim for an annual increase of 3 percent — and don't ask for more than 10
5. Keep the payor informed when you plan to add a new service
6. Carve out some codes and accept percent of billed charges for the rest
7. Make sure your contracts are up-to-date on the newest codes
8. Establish an ongoing relationship with your payor representative
9. Don't accept the tactics payors use to tell you "no."
10. Take the negotiation to your contractor's supervisor if necessary

Source: Becker's ASC Review
Source URL: http://www.beckersasc.com/asc-coding-billing-and-collections...

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