CONTRACTS

In my experience you need to reach out to that specific insurance company and request a meeting with their vice president of contracting. You can't just go and say I want to be paid more, but instead you explain key facts about your practice and how your practice saves them money. Do some internal research and first see how much that commercial insurance means to your practice revenue. If the revenue is less than 10%, consider even dropping that plan filling those seats with better paying plans if there is no option for negotiating. Do you treat diabetics and keep them out of the hospital or prevent amputations, if so, show in real dollars how much you have saved the insurance over the years and make the point that it is time for you to update your contract. It is imperative when you negotiate rates that you use a specific fee schedule, most will go with a Medicare fee schedule. So, pick the Medicare year that you got paid the most and request 165% of the Medicare schedule, it is a negotiation, and it may take 3 or more tries over several months of back and forth to get you to a favorable fee schedule. Don't sell your services short. Don't accept the first offer. This information provides a good start on the path to better reimbursement.