Provider Contracting

The Future of Healthcare Contracting is Here. Are you?

November 1, 2024
5:39 pm

Everything you need to know about the changing atmosphere surrounding healthcare contracting

Major world events in recent years, such as the COVID-19 pandemic, have altered the healthcare industry. From emerging trends in healthcare applications to new and persisting challenges healthcare organizations continue to face, we are here to keep you in the know. It is essential to stay up-to-date so we can better aid your practice with its tailored needs.

What is contracting?

Healthcare provider contracting creates and establishes the terms necessary to provide healthcare. These contracts outline expectations that healthcare professionals and their institutions must follow to receive payment.

Who pays for these services, and how? A “payor” pays for a healthcare provider’s services. Payors may be an employer, patient, government-run program, or a commercially-run insurance company. Healthcare physicians receive payment in various ways: direct-to-employer, bundled payments or shared savings, quality incentives, and fee-for-service reimbursements.

What are emerging trends?

Believe it or not, the number of credentialed practitioners is growing. Contracting is essential in understanding payor dynamics; your practice can be part of this movement. Integrating Contracting Providers into your business model can significantly benefit your healthcare organization’s growth.

In addition, credentialing establishes an ethos for your practice. Not only does it guarantee patient safety, but it emphasizes your practice’s qualifications for the job. Contracting Providers can help you verify your eligibility to provide medical services and receive payment.

What are the current challenges healthcare organizations face?

There are two prominent challenges healthcare organizations face when contracting: complicated legal jargon and revenue leakage.

Do you speak legalese? Unsurprisingly, the legal documents that your practice needs to establish healthcare-providing agreements contain confusing and complex wording. Not fully understanding the terminology in these contracts can lead to unbalanced agreements, uninformed decision-making, and the risk of losing compliance. Therefore, your practice must have quality legal resources to aid you through the tedious contracting process.

Do your numbers add up? Revenue Leakage is a healthcare industry-wide problem. Improper payment results in losses for your practice, but proper contracting can help mitigate this problem.

How Contracting Providers Can Help You Succeed?

Our organization seeks to help your healthcare organization meet challenges and emerging trends head-on. Contracting Providers utilize services such as provider enrollment, credentialing, provider contracting, and more to lay a solid foundation that your practice can rely on.

With our services, legalese becomes our prerogative, easing the burden on you and your practice as we negotiate insurance contracts on your behalf. We aim to keep you and your practice credentialed and maintain management of provider contracts.

Don’t let your practice fall behind. Get with the times and partner with Contracting Providers to keep your practice on the green line.

Are you interested in learning more about our services or need emergency guidance? Call us at 855-367-6559 or email info@contractingproviders.com for more information.