Now, providers can access actual claims data through healthcare market intelligence services, a gamechanger that has put power back into providers’ hands. By utilizing adjudicated claim and remit data on charges, payments, denials, and more, providers can better prepare for these negotiations. They can evaluate their own services and determine what their differentiators are — all with insight into how their competitors for same or similar services measure up.
To help them negotiate successfully, providers should consider investing in a best-in-class healthcare data service. Capabilities to look for include, but are not limited to:
- Allowing providers to see actual reimbursement rates from payers within a user-defined region and specialty
- Enabling filtering by taxonomy
- Eliminating “ghost rates”
- Offering visibility into payer behavior, such as denial rate by code, and total payment trend by payer and code
- Compliantly revealing market competition charges and payment rates
To learn more about the value of healthcare claims data, read the full article, “Healthcare Claims Data Helps EM Providers Restore Good Faith in Payer Contract Negotiations.”