Did you find last week’s podcast about payer transparency data interesting?
Today’s BIG Idea is another way to look at your practice’s competitor’s contracts. The graphic accompanying the podcast shows a OBGYN practice in Central Florida and how contracted rates vary widely in two counties. The benchmarking report shows where the practice’s contracts fit across all published contracts for that procedure code in that area. Listen to the podcast to hear why there are multiple contracted rates shown in the chart and why the highest rates shown may not be the most common rates paid. Even if your practice cannot negotiate your rates to the highest level, even moving up from one column in the histogram to the next may mean over $500 per procedure. Per patient. There is real opportunity in understanding and leveraging this data. I hope you find these podcasts helpful.