Here are the key details to know:
1. Contract terms. When contracts extend for more than one year, ASCs can negotiate a cost-of-living increase for subsequent years.
2. “Lesser of” language. Third-party administrators and Preferred provider organizations often negotiate 65 percent of the bill charge, but the language says “lesser of” the amount charged.
3. The escape clause. The ability to get out of a contract is language to look out for. A 90 to 120-day cancellation clause is ideal for ASCs.
Read more contract tips here.
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Tenet & Cigna reach agreement after lengthy dispute — 3 insights
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.