One of the most frequently-heard complaints from physicians these days is the constantly declining levels of reimbursement from third-party payors. And when insurance companies and similar providers pay less money for medical services, health care practice revenues can decrease significantly. As a result, physicians are often forced to cut additional costs, work longer hours, raise their prices, or see more patients each day.
Many physicians think they are powerless to stop these diminishing reimbursement rates. But they’re wrong.
Physician practices can negotiate managed care contracts with their payors in order to get higher reimbursements for their services – and TriCPS can help them do that.
Let TriCPS Review Your Managed Care Contracts
Insurance companies and other third-party payors pay very close attention to their bottom lines. They hire numerous employees whose main job is to minimize the amount of money paid out for claims and medical services. Unfortunately, most doctors don’t have the time, patience, or knowledge to address these practices and increase the money they get from these payors.
For many years, TriCPS has represented the interests of medical practices of all sizes in an effort to improve physician compensation processes. The managed care consulting teams at TriCPS are well-versed in reviewing contracts to discover new methods of improving practice income. And TriCPS never hesitates to engage in payor contract negotiations on behalf of their clients – even if the current contracts aren’t yet up for renewal.
Advantages of Managed Care Contract Review
Here are some of the benefits that medical practices receive from having their managed care contracts reviewed by TriCPS:
- Continuous improvements in revenue
- Quicker and more timely insurance reimbursements
- Removal of unknown or hidden obligations in current contracts
- Reduced liability and risk in existing contracts
- Elimination of discounts to which the practice never agreed
- Decreased limitations on hiring and staffing decisions
- Improved competitiveness in their marketplace or service area
- Discovery of ways to maximize their earnings from the services they provide
If you habitually sign managed care contracts without negotiating the terms, you could be giving away ongoing revenue opportunities in the future. Let TriCPS put as much effort into identifying ways to increase your practice’s revenue as third-party payors do in trying to squeeze every dollar out of your physician reimbursements.