Therapists: Master your contract negotiation tactics
Briefings on Outpatient Rehab: Reimbursement and Regulations, August 1, 2009
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As a new or seasoned therapist, you might be tempted to sign every contract you can get your hands on in order to obtain business. However, do not contract with a managed care plan without a thorough review.
The fear of not being able to see patients without accepting a contract, a lack of financial knowledge of the cost of running a practice, and inexperience in reading and understanding the implications of managed care contracts cause many therapists to sign on the dotted line before conducting any research, explains Nancy Rothenberg, vice president of Calabasas, CA–based PTPN. In an aggressive managed care market, the cost of reimbursement may very well be below the cost of the therapy that you are providing, and with these types of contracts, you could be out of business before you know it, says Nancy J. Beckley, MS, MBA, CHC, president of Bloomingdale Consulting Group in Brandon, FL.
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