Now is the time for you to renegotiate your managed care contracts and receive the increase you deserve. It is a for sure way to increase revenue per patient. Take your yearly or monthly costs and divide this number by the number of office visits for that same period. This will give you a very rough number of your costs per patient. Now, take this number and divide it by the revenue received from these same procedures to find out what your cost is as a percentage of your revenue.
What is your average margin or operating cost percentage over revenue? 50% or 60%
What is a good number? What if you could increase revenue by 10%? Would this help your practice?
Renegotiating your insurance contracts will quickly improve your bottom line and increase revenue by 7%-20% for the managed care contracts. Contact us today to find out about our specials available for contract renegotiation services.
