Have you ever been at the negotiating table with an insurer and they tell you that the reimbursement rates you are requesting are unreasonable? Have they told you that your rates are on par or better than your peers in the local market? Have they told you that you need to accept reduced rates or risk the possibility of being forced out-of-network? Having served hundreds of provider clients, we hear these stories again and again.
Insurers collect claims data from their Coordination of Benefits (COB) process to learn exactly what other insurance plans are contractually reimbursing your hospital or physician group. Insurers use their COB claims data in contract negotiations and healthcare providers feel helpless when they cannot validate or refute what insurers are telling them.
FlexPoint provides hospitals and physician groups with access to the same type of claims data that insurance plans gather from their COB process. Our data is irrefutable and can be used as concrete evidence in support of your organization’s position at the negotiating table. With our data you will be able to negotiate more competitive reimbursement rates with confidence.
Current, relevant, and precise contract rate data will let you discern the difference between truth and exaggeration. It gives you the ability to know how much room you have to negotiate, and how health insurers are treating you compared to your competition. This type of information can be used in analyses, discussions, and negotiations with health insurers, employers, and other parties.