Simple, Cost-Effective Managed Care Strategies
Choosing your managed care contracts doesn’t have to be a complex process. Frequently the problem isn’t the insurance contract itself, it’s the process of a practice interfacing with the insurance provider. Whether your practice has contracts on the national or regional level, Fuel has the time and resources to come in and analyze the uniqueness of each relationship, help decode the financial benefits and optimize your strategy to help bring in more loyal, long-term patients.
“The purpose of entering into any managed care contract is for the flow of patients. The key, however, is to understand procedural reimbursement and to ensure they meet clinical revenue objectives. It’s not what they ask you to do that matters—it’s what you get paid for what they ask you to do that matters.”Dan Quall, MS, CCC-ADirector of Strategic Initiatives
Helping Land Contracts Right For Both Your Practice and Patients
At Fuel, we believe in maintaining managed care contracts that support the medical model of care, offer optimizations to your bottom line and ensure the key benefits necessary for your patients’ overall quality of life with holistic treatment strategies.
We take this approach with all specialties, but looking at audiology as an example, this means helping you align your practice with contracts that allow your patients to access cognitive screenings (e.g., Cognivue’s line of portable products that can be used in a non-physician setting), and other ancillary services that help tackle the higher costs of medical care associated with untreated hearing loss.
Deep-Diving Into the Finances of Your Contracts
The complexities of managed care contracts all fall on navigating reimbursements to your practice, especially when it comes to regional contracts. It can be easy to get lost in the hundreds of reimbursement codes. Fuel can help you critically examine which contracts you’re seeing most frequently and deep-dive into the analytics to make sure you’re meeting your profitability benchmarks.
With our strategic partnership with CodeToolz, one of the most effective payer contracting and reimbursement firms in the country, our in-house financial metrics team can organize, analyze and maximize your payer contracts and fee schedules in one simple place.
A 7% increase (average) on payer reimbursements of
$500,000 will put an extra $35,000 in your pocket.
Offering Your Practice Alternatives to Third-Party Insurance Sources
Should your team be looking to other options beyond managed care, Fuel has you covered with supplementary strategies such as our Access Hearing Discount Program. Framed around the same mutual goal of your relationships with traditional, third-party insurers—to provide the best hearing health care to your patients—this custom plan isn’t affiliated with any insurance plan which allows you to retain a larger portion of revenue that would otherwise be lost.
Just like the insurance companies, we have contracted with manufacturers to provide your patients with direct access to the following benefits:
- Full line of high-quality, private-label product offerings
- Robust service package options
- Ability to provide extended service contracts
How Are You Optimizing Your Managed Care Strategies?
There’s no need to get lost in the complexities of reimbursement codes when optimizing your payer contracts. You shouldn’t have to worry about whether your payers are best suited for your holistic model of care. At Fuel, we can help you reduce your practice’s overhead managed care costs and pass those benefits onto your patients’ model of care.
Contact Fuel Medical Group today to learn how our managed care solutions can help further grow your business today.