Operations Learning Moment-Strategies for Negotiating Higher Reimbursement

Video Transcription

Video Summary

The video transcript discusses the process of negotiating contracts with insurance carriers for medical services. The speaker, Andrew, who is the VP of Customer Success at Rivet Health, shares insights on assessing payer landscapes, building dynamic models for contract negotiations, and running a successful negotiation process. He emphasizes the importance of identifying the right contacts at both the practice and payer side, setting clear negotiation goals and upper/lower bounds, and understanding when negotiations are most effective. Andrew also provides tips on handling common objections during negotiations, such as rate changes and market competitiveness. He advises providers to be prepared, confident, and willing to walk away from unfavorable contracts if necessary. The importance of building long-term relationships with payers and utilizing data to support negotiation positions is also highlighted. Overall, the transcript provides a comprehensive guide on navigating the complexities of negotiating contracts in the healthcare industry.

Keywords

negotiating contracts

insurance carriers

medical services

payer landscapes

contract negotiations

negotiation process

common objections

healthcare industry