Monthly Archives: August 2015

Negotiation: It’s not always a two-way street

In any type of partnership or contract, a two-way street is ideal, where both parties give and take and find a mutually beneficial arrangement, but it doesn’t always work out that way in business or in our personal relationships. The art of negotiations and recognizing when there is a deal-buster is important. We don’t have to have it our way, but it is important to be respected even when you disagree. When negotiation is required, keep in mind that you are opposing the other party. Knowing the opposition and understanding how they will likely respond will strengthen your position. Here are some ideas that can help you have more effective negotiations. Be a detective Learn as much as you can about the opposition. Understand their objectives and be clear on yours. You will be able to uncover areas of potential conflict by identifying points that are significant to you, representing the interest of your practice and clarify points that are important to the opposition.  You'll also learn what might be most important to the opposition. Explore their strengths and weaknesses and how you can you use these in your negotiation strategy. The more you know, the better you will be able to anticipate the responses you are likely to receive. It is also important to know where both parties are already in agreement. These shared objectives can help build essential rapport before opening up issues where there is likely to be conflict or disagreement. Have a plan Develop your strategy for negotiations carefully and be prepared to provide supporting documentation for your case. When possible, quote credible sources that share your position. This will help influence the opposition and strengthen your position at the bargaining table. Identify potential deal busters It is important to recognize that even with best efforts that are times when you hit an impasse that cannot be overcome. Those are the deal busters. Know what yours are before you begin negotiations so time is not wasted and you can work to end the process respectfully. It is important to honor each others' position in a way

By |2022-01-01T22:51:59-08:00August 12th, 2015|

Choose the right billing service, get more than professional billing

Choosing a new medical billing service is stressful. Few activities have more of an impact on practice profitability, after all.  But with the risks of choosing comes upside, too -- and not just in the opportunity to have your billing handled by dedicated professionals. Switching to a third party billing service (or a new service) offers an opportunity to upgrade your technology at the same time. By making the platform(s) your new biller uses part of your evaluation, you can improve other parts of your practice business besides billing itself. Today's billing technology has continuously improved in recent years. Competition has spurred innovation and a wealth of new features. The cloud platform, especially, allows these vendors to roll out upgrades more cheaply and easily (and make them mostly painless for customers, too).  Billing services that use the most up-to-date billing platforms can offer these advantages to their clients as part of the service. When you use a practice management system as part of your billing service relationship, that usually provides you with scheduling, reporting, reminders, verification, and other tools automatically. A more flexible, modern scheduling system can help you maximize provider productivity and reduce costly no-shows. Better reporting allows you to easily analyze the value of your contracted health plans. Verification tools built right into a practice management system save staff time and reduce costly booking mistakes. These are just a few of the benefits you can get by making top-tier billing/PMS technology a requirement of any new billing service you're considering. Of course, you don't necessarily even have to switch services to switch up technology -- if you made a good choice of partner in the first place, that partner will work with you to make a transition if you need to.  (A small, independent billing shop -- even a one-person shop -- can be a wonderful solution for your practice, but it is very important that they commit to keeping up with technology trends and opportunities. In fact, great technology is one of the best tools independent billers can use to shine, by allowing them to focus on

By |2022-01-01T22:51:59-08:00August 10th, 2015|
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