Why Every Medical Provider Should Review Their Payor Contracts Annually
Are you getting paid what you deserve?
For most medical providers, reimbursement from insurance companies is the lifeblood of their practice. Yet many providers accept the terms in their payor contracts without realizing that those agreements can (and often do) change over time. Without regular review, practices may lose out on thousands of dollars in revenue each year.
Why Payor Contract Reviews Are Essential
Maximize Reimbursements
Payor contracts determine how much you’re paid for every service. If your contracts are outdated, you may be reimbursed below market rates. A yearly review ensures you’re getting competitive and fair payments for the care you provide.
Stay Updated on Contract Changes
Insurance companies frequently update terms, fee schedules, and reimbursement models. Unless you review your contract regularly, you may be agreeing to unfavorable terms without even realizing it.Strengthen Negotiation Power
A third-party contract negotiation service brings expertise and objectivity to the table. They understand industry benchmarks, compliance issues, and negotiation strategies that can improve your contract outcomes.Protect Your Financial Health
Even small underpayments can add up. Reviewing your contracts annually is like doing preventive care for your practice’s revenue cycle—it keeps your business healthy and sustainable.
When to Review Your Contracts
At a minimum, once per year. But you should also schedule a review whenever:
A new payor contract is offered
Your patient mix shifts significantly
Reimbursement trends change in your specialty
How We Can Help
Our Contract Negotiation & Review Service ensures your agreements are structured for maximum reimbursement and financial protection. We identify areas where you may be underpaid, renegotiate terms when possible, and give you peace of mind that your revenue is optimized.
