Time to raise the bar on internal and payer communication

It’s no secret that the health care landscape is changing. Mergers and acquisitions, accountable care principles, Medicare cuts and value-based payments are just a handful of the multifaceted changes stressing the bottom line at health systems across the country today.

Therefore, the responsibility of health system finance leaders to maximize contract value is more complex than ever. In this issue, learn how best-practice organizations are getting the most out of their contract yield and improving contract management by:

• Increasing internal communication and coordination

• Opening regular communication channels with payers

It’s time to ask questions, analyze payer trends, understand your specific opportunities and financial numbers, talk about market impacts, set clear objectives and ensure your contracts align with organizational objectives. Once your internal team agrees, you can be transparent with payers and know where you can be flexible and where you need to hold strong on contract terms.

Come together as an internal team to know what you want out of a contract and then do the prep work to get what you want when you speak to payers.

“Active internal participation and actionable strategic direction are the foundation for success when managing payer contracts.”