BC Advantage - 2023 Issue 5

The Crucial Role of Negotiating Payer Contracts Every 18 Months for Physician Offices

The healthcare landscape is constantly evolving, with changes in technology, patient care, and the business of medicine all occurring at a rapid pace. One area that is often overlooked but is equally critical to the success and sustainability of a medical practice is the negotiation of payer contracts. With the rising costs of providing healthcare, it's essential that physician offices stay on top of their contracts with payers, such as insurance companies and government agencies. This article will explore the importance of renegotiating payer contracts every 18 months, focusing on three key factors: inflation, payer rate reductions, and the...

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