If you are one of the few specialities in your area, you have a lot of negotiating power. but even if you are not, I would due an analysis of your other contracts, if they are a lot lower than your other contracts, I would bring this up as a point. Also, even before you start negotiating you should clarify with your doctors one of two issues: Are you willing to walk away and term your contract? or Are you just trying to get better rates?. If you are willing to walk away, you may have a lot more negotiating power. One tactic you might take is to do analysis of your top 20 billed codes and ask for an increase in your top 20 codes, not all codes. If they are not willing to budge at all somtimes terming your contract is the better financial option depending how much of your practice is made up of this one insurance.
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