When was the last time you negotiated your contract with commercial payers? This edition of N2K emphasizes the importance of payer contracting. Our Director of Contracting & Credentialing, Sandy King, joined the ConfirmaMD team in December 2020 with almost 30 years of relevant healthcare experience, including over 17 years in Managed Care Contracting and Credentialing. She and her team are invaluable in payer contracting, and listed below are the areas they can assist your practice with:

• Increase overall revenue by contracting with top players in the market that bring value! Network growth and understanding your payer mix are essential— not every payer brings value.  Contract with payers that continue to grow in the market and increase in the number of affiliated members.
• Understanding your Chargemaster. Could you be leaving money on the table?
• Reviewing contract language. Understanding the language in payer contracts is essential to claims getting adjudicated correctly.  
• Use different payment methodologies to highlight top procedures.
• Understanding term provisions. How long does your contract last? Is it evergreen?
• Understanding and reviewing cost data. What does it cost to do a procedure? Knowing this brings value so that you better understand your commercial contract needs. 
• Practice’s value proposition, or what sets the practice apart from similar physicians. What leverage does your practice have in negotiating contract rates? 

Want to learn more? Schedule a quick call or reach us online at www.ConfirmaMD.com