Contract Review Services
Contracting is the lifeblood of a medical practice. Having the proper strategy and tools to manage this area from beginning to end can mean the difference between physicians working longer hours for less pay or enjoying a better quality of work life and financial solvency. Seek assistance from a firm that has been intimately involved with contractual issues.
In July, 2004, Daniel P. Stech, MGMA survey operations director stated, "We observed that a significant number of survey respondents were likely unable to identify their contracted rates, suggesting a lack of understanding for contracting effectiveness. The disparity between reimbursement values and contracted values should prompt practices to evaluate their contracts and audit payer performance."
He is correct. Knowledge is power. Knowing, legally, what constitutes good contract language and good rates for reimbursement is the key to that power. MediCo Unlimited’s principal, Jeff Eckert, is a sought-after contracting authority and has experience reviewing and negotiating hundreds of contracts with virtually every major payor across the country. He has occupied advisory Board positions with hospital PHOs, payor committees, various practice associations, and as Chief Operating and Financial Officer of large practices.
MediCo can review existing contracts and identifying unacceptable contract provisions for areas of improvement in economic (reimbursement) and non-economic language. We will also advise the client about potential business affiliations in an effort, in part, to strengthen its bargaining power regarding health care contracting (i.e., physician / hospital organizations or independent practice affiliations).