Preparing for negotiations with payers is just as important as the actual negotiations themselves. In fact, the more time you spend gathering data and researching up front, the easier the actual negotiations can go.
One of these data gathering steps is to investigate who you are actually negotiating with. You might think, “OK, Healthcents, that’s pretty obvious. I’m negotiating with insurer X.”
But are you really?
Often, a smaller payer will keep its same name/brand, but it’s become part of another company through a merger or acquisition.
It’s important for you to do your research so you know who insurer X really is. Check your insurer’s website (try the press, media or newsroom section) for updates on any changes in ownership.
We’ve also developed this handy guide for you to reference about some of the mergers that may have taken place since your last contract negotiation. (You can click on the image and then save it to for reference.)
Want more tips to prepare for negotiations? Download our free white paper with tips on analyzing your contracts and reimbursements.