Caryl Serbin, president and founder of Serbin Surgery Center Billing, recommends the follow eight quick tips for picking the best insurance plans for your surgery center.
1. Determine financial stability of lesser-known plans by checking with your state insurance commissioner.
2. Get information about the potential plan including:
- market share;
- history in your market;
- types of products (PPO, HMO, POS); and
- breakdown of members by type.
3. Don't create a "loss leader" in order to attract physicians.
4. List the plans in order of those with the largest number of contract holders in your area.
5. Next choose the plans that make up large patient volumes for your referring physicians.
6. Choose well-known plans to begin your negotiations (i.e., Blue Cross, Aetna,
UHC, etc.).
7. Choose PPOs that steer members to your facility in return for a discounted price.
8. Signs to look for in choosing a PPO:
- Has a current provider directory.
- Provides a list of payors.
- Members have ID cards with a number to verify eligibility.
- Requires credentialing of providers.
- Has set fee schedule.
Learn more about Serbin Surgery Center Billing.
Read more insight from Caryl Serbin:
- 12 Best Practices for Analyzing Business Terminology in Payor Contracts
- What to Audit When You Audit Your ASC's Billing Process
- 5 Ways ASCs Can Improve Coding