Managed Care Contract Negotiations
Nov 06

Replace vague definitions with precise contract language

Give the definitions section of your contracts some muscle to strengthen your case should you ever have to take on a payer in a lawsuit. You might even find that strong contract language can help to keep you out of the courts altogether. Too often, the language in definitions is vague and left open to misinterpretation or the payer’s interpretation, as the case may be.

Use consultants or attorneys with whom you either have prior experience or who have been personally referred to you by a trustworthy source. These advisors should be able to review proposed contracts and find the weak spots that need more precise language, further clarification, or detailed description.

If it is too costly to have a source review all of your contracts, prioritize the ones that have the highest potential for risk and generate the most revenue and review those only.

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →