Read the Insurance Company ABC Inc. Participating Provider Agreement in this attachment. Assume that ABC, inc. has submitted this proposed contract to you in your capacity as chief negotiator for Independence Hospital. List at least three proposed changes which you would like to negotiate with ABC and explain your rationale for each change.
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Introduction: As a chief negotiator for Independence Hospital, my aim is to negotiate with ABC, Inc. regarding the proposed Participating Provider Agreement, to ensure that it aligns with our interests. I reviewed the contract and identified the following proposed changes which I would like to negotiate with ABC and provide the rationale for each change.
1. Change in Payment Schedule: The contract proposed by ABC, Inc. outlines a payment schedule that allows them to pay medical bills up to 60 days after receipt of the claim. This proposed change is unacceptable as it puts an unnecessary strain on Independence Hospital’s finances. Therefore, I would like to negotiate a shorter payment schedule such as 30 days or less to avoid any potential cash flow problems.
2. Increase in Reimbursement Rates: The proposed Participating Provider Agreement provides lower reimbursement rates for the services provided by Independence Hospital as compared to other providers, which puts us at a financial disadvantage. Therefore, I would like to negotiate an increase in reimbursement rates to ensure that we are compensated fairly for the services we provide.
3. Removal of Limitations on Treatment: The proposed contract by ABC, Inc. includes limitations on certain treatments and procedures that Independence Hospital can provide to our patients. As medical professionals, it is our responsibility to have the freedom to provide the necessary treatment to our patients without any limitations. Therefore, I would like to negotiate the removal of any limitations on the treatments and procedures provided by Independence Hospital.
In conclusion, as the chief negotiator for Independence Hospital, I suggest that these changes be made to the proposed contract to ensure Independence Hospital’s best interests are being represented.