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CONTRACT
NEGOTIATIONS
As a medical professional, your core job is to attend the patients. Allocating time & energy to the complex process of negotiating contracts with payer companies should be the least of your worries. We follow a thorough process of contract negotiation to provide you with the best possible reimbursement.
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Credential IQ provides an in-depth evaluation of the existing contracts along with the identification of current payers majorly dealt with. We also provide an analysis of the medical practice to understand the top specialties billed the most, as well as a detailed comparative analysis of the reimbursement rates by various insurance agencies. We follow up with the payer regarding the best offer in context that the existing market scenario, by reviewing and analyzing payer contracts that there is no scope for misinterpretation and is properly worded.
Some Insurances We Deal With:
What is a provider contract in healthcare industry?
Provider agreement is a contract between a healthcare provider and an employee benefits plan. The agreement states that the provider will accept payments from the plan for services provided to patients covered by that plan.
What is negotiated rate health insurance?
A negotiated or an adjusted rate is the amount an insurer is obliged to pay under contract for all the procedures and services a doctor or medical facility covers.
When should I review contracts?
You must review contracts well ahead of their expiration dates. You should notify the company if you want any changes or cancellations.
What is the timeline required to negotiate the rates?
It typically takes 3 to 4 months to get a favorable outcome, based on the practice location, demographics, suite of services provided by the practice etc.