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Negotiating payment for new technology purchases.

Raymond J Kaden1, Joanne H Vaul, Pamela A Palazola

  • 1Waterview Business Solutions, Stone Harbor, New Jersey, USA. raykcpa@aol.com

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|January 9, 2003
PubMed
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Healthcare financial management : journal of the Healthcare Financial Management Associationยท2005
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Implementing new healthcare technology requires understanding its financial impact. Projecting indirect costs and demonstrating immediate savings are crucial for negotiating managed care payments.

Area of Science:

  • Healthcare Management
  • Health Economics
  • Technology Assessment

Background:

  • New technology integration significantly affects hospital financial performance.
  • Understanding pre-implementation financial status is vital for payment negotiations.
  • Managed care payers require evidence of immediate cost savings.

Purpose of the Study:

  • To analyze the financial implications of adopting new technology in healthcare services.
  • To guide hospitals in negotiating appropriate reimbursement for technological innovations.
  • To project the indirect financial effects on various healthcare services.

Main Methods:

  • Financial impact assessment of new technology implementation.
  • Projection of indirect financial consequences on related and unrelated services.

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  • Analysis of managed care payer requirements for payment increases.

    • Main Results:

    • Pre-implementation financial understanding aids in negotiating new technology payments.
    • Projecting indirect financial impacts is essential for managed care negotiations.
    • Demonstrating immediate savings is key to securing payment increases from payers.

    Conclusions:

    • Hospitals must comprehensively assess financial impacts, including indirect effects, before adopting new technologies.
    • Strategic financial planning and data-driven negotiation are critical for successful technology adoption and reimbursement.
    • Aligning technological benefits with payer demands for immediate savings is paramount.