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Use utilization data to win an increase in payer rates
When trying to negotiate a better rate with a payer, many providers often neglect to use an important set of data that, oddly enough, are right at their fingertips.
Utilization data, which collectively reflect a provider's efficiency and, in turn, the value they can offer a payer, is one stone that sometimes remains unturned during contract negotiations.
"Providers should be able to get a fair rate based on what you bring to the table," says Reed Tinsley, CPA, a consultant in Houston.