Tag: Armando Cardoso
Contracting: Tailor your message
August 12, 2020Armando Cardoso
Q. How do I convey a compelling value proposition to payers? A. There are five critical questions to answer when creating a compelling value proposition to payers.How can I tailor my message to fit a payer's perspective?Like you, insurance is a business and has goals. You want to tailor your message to show how your organization supports their goals. Maybe emphasize if you have been declining their members, have a unique offering, or a geographic/customer service advantage. Do you lower the total...
Contracting: Know your strategy
July 9, 2020Armando Cardoso
Q. What questions do I need to answer before contracting?A. More contracts do not equal more value. Before you get started, ask the right questions, make a plan and be prepared to follow-up.Who are your patients today and are you expanding your services in the future?There are two key dimensions to consider: geography and your patient's insurance mix (Medicare, Medicaid, commercial, etc.). These factors will be the foundation of your payer strategy.Who else provides the same service(s) in your area?Payers...
Contracting: Understand contract terms
June 10, 2020Armando Cardoso
Q. What do I need to know when it comes to my managed care contracts? A. Unfortunately, there's no Rosetta Stone for payer contracting. You need to understand operational and strategic terms that can have a meaningful implication on your organization and financial performance. We've outlined five critical contract terms that need to be understood for each of your payer contracts.Term & terminationYou want to maintain your options, as this allows you to get out of unfavorable situations or pursue...
Contracting: Consider three key questions
May 13, 2020Armando Cardoso
Q. What should I consider before renegotiating payer contracts?A. Renegotiations don't need to feel like you're facing Goliath—you've got more than a slingshot and it's not one-on-one combat. We've outlined three critical questions that need to be considered for the right contracts to be prioritized.What are your organization's goals and how can you negotiate to support them?More money is a core goal, but it's not the whole story. You should identify how each potential payer negotiation could...