In our last video, I mentioned we would present a series of videos focused on educating you about some of the Steps that we take to negotiating with PPOs on behalf of our clients to get them paid more and ultimately becoming a more profitable practice.
What’s our First step? – Create your insurance profile.
What does an insurance profile look like? It may include the following:
• Organize a list of PPO plans that you participate in, and when you joined their networks. It’s important to know when you joined them as several carriers may review your fees every 24 months.
• Find and create a list of the network recruiters and network managers within the PPO plans you participate with that recruited you. Typically, these are the people to communicate and negotiate with and are critical to the negotiation process.
As you prepare your profile, it may be a good time to review the reasons you joined PPO’s in the first place, and the value they play in your practice.
• Was it because you were a new practice, needed new patients, or losing patients? Do those reasons apply today?
Now that you’ve created your insurance profile, what’s the next step? Prepare to negotiate! In our next video, you’ll learn about the various types of information we organize and present to the carriers to start the negotiation process and produce the fee increases you deserve!