Contract simulation is your best defense against leaving money on the table when negotiating new payer contracts.
When renegotiating your payer contracts, how do you know if the proposed rates are to your advantage? Or, when adding new services, how do you determine if they make financial sense?
Revenue Masters’ contract negotiation tools ease the difficulty in making those decisions. In order to determine what makes financial sense, you need a payer contract simulation tool to determine financial impact on proposed payer rates. Revenue Masters Reimbursement Maximizer software can easily simulate payer contracts and their financial impact on proposed payer rates when renegotiating contracts.
HOW IT WORKS
We start with the existing reimbursement rates and terms, then modeling proposed contract profiles for comparison using a “copy contract function".
Our “copy contract function” tool allows users to easily create various modeling “what-if” scenarios - making it easy to compare and catch rate changes you may have otherwise missed. The system provides the ability to simulate inpatient, outpatient and physician terms to determine the full financial impact. In addition, there is the ability to create user-defined historical modeling data sets using your claim history.
Copy Contract Function
Allows you to copy existing reimbursement rates and terms then compare to new or revised contracts, making it easy to compare and catch rate changes you may have otherwise missed.
Integrated process for modeling prospective payor contracts to improving future reimbursements and accurately assessing, measuring, and capturing all revenue contractually owed with current contracts.
Rate and Scenarios Modeling
Improve overall financial performance of your organization by being prepared for contract negotiations.
Make Better Decisions.
Maintaining financial stability in a rapidly changing environment can be challenging. Revenue Masters can help! With Revenue Masters Reimbursement Maximizer, you have the ability to simulate inpatient, outpatient, and physician terms to determine the new contract’s full financial impact. Our software also allows for historical modeling datasets using your claim history. This is the most accurate way to determine if proposed contract variables will increase or decrease your organization’s net patient revenues.
You can now model prospective payer contracts and accurately assess, measure and capture all revenue owed by visualizing different scenarios and change patterns before signing off on the payer contract.
Contact us today to learn more about our contract negotiation tools and services.