Managed care and the bottom line of your practice

Managed care has greatly influenced the health care industry, particularly with regard to reimbursement for medical services. Managed care has had and continues to have a significant impact on reimbursement for physician services. When contractual relations with managed care companies are initiated and managed by medical practice administrators, the result can be beneficial to a physician practice's financial bottom line. This article discusses the necessity to develop effective working relationships with managed care companies and suggests strategies for establishing fee schedules and negotiating reimbursement contracts.