Why Should Physicians Invest in Contracting Assistance?

What are payor contracts?

Payor contracts are a vitally important aspect of practice management. They serve as a documented representation of the relationship between a provider and a payor. Within the context of the contracts outlines the reimbursement arrangement that a provider will receive from different healthcare networks.

Finessing the right contract can be a huge challenge for providers, regardless of your practice’s bandwidth. Reimbursement rates can vary, back-and-forth with healthcare networks can be tedious, and ensuring your needs are met can be difficult. That being said, if your practice is struggling to obtain contracts that are beneficial to you, you may want to consider partnering with an outside organization that has established expertise in practice management, such as Infusion Health.

What are the benefits of seeking outside assistance?

A payor contract is crucial within a medical practice to maintain business flow and provide patients with the highest quality care. However, the terms and jargon muddled within these contracts can be difficult to understand. Additionally, negotiation for the best possible rates is an intricate, timely process that requires a lot of back-and-forth. Successful contract negotiation in the healthcare industry requires finite attention to detail, knowledge of contractual terms at a molecular level, and dogged persistence. These are just a few of the qualities we uphold at Infusion Health.

Attempting to oversee the contracting process independently can be extremely overwhelming for your office staff. There is a multitude of paperwork to shuffle and difficult jargon to understand. This is where third party organizations come in handy. They have the wherewithal to oversee the entire process head-on, from the initial introduction to the closing handshake. At Infusion Health, we have incorporated an intricate, step-by-step process that takes the weight off your shoulders while simultaneously ensuring your rates are top of the line.

Our step-by-step method

First, we get a generalized understanding of the fine print, making sure all terms and conditions are not only understood, but also meet your practice’s needs. Then, we further our analysis by getting a detailed understanding of what is being outlined in your contracts. After we’ve gone over the specifics of your contract, we build a personalized management system that balances your need and the meets the requirements of your contract. Our management system helps us to maintain a positive relationship with you and your contracted healthcare network. After all these steps have been completed, we are ready and eager to begin the negotiation process for you.

At Infusion Health, our ultimate goal is to function as an extension of your team, meaning your success is also our success. Our lines of services have been specifically curate to generate success for specialty medical practices. Whether it is digital marketing strategies, physician liaison services or contracting assistance, our team creates growth for your business so you can focus on healing your patients.