I have been negotiating public and private payer health insurance fee schedules for clients for several years now. The main comment I get from providers, groups, and other medical practices, is, “Private and Public payers will not negotiate with us. We are stuck taking whatever they offer.” This is a huge myth. I have had a great deal of success convincing public and private health insurance companies to renegotiate their fee schedules for my clients. In some cases, the increases are as high as 25-35% across the board.
Several health insurance contracts with providers will state that the contract can be negotiated within 3-6 months of the contract being up for renewal. However, most providers, medical practices, groups, and other medical businesses do not realize that this is the case. Do not let the health insurance companies keep you from getting better reimbursement rates. Make sure you have someone that knows what they are doing to negotiate the fee schedules on your behalf. You’ll be happy you did.