Optimizing revenues through effective contract management

Many provider organizations are losing millions of revenue dollars each year because their systems and administrative processes do not efficiently and effectively monitor and enforce contract terms. This inefficiency may result from many factors, including lack of understanding of managed care contracts, terms, and requirements; limited information systems; and inadequate operational controls that interfere with an organization's ability to capitalize on contract terms. Adequate information systems, process improvements, and well-informed contract management staff can help many organizations reduce costly errors and inefficiencies that result when the negotiated terms of managed care contracts are not enforced.