Negotiating Insurance Reimbursement Rates

Описание: Therapists often hit a ceiling with insurance reimbursements, unaware they can proactively request rate increases to boost their income without adding more clients. We explore a step-by-step process for negotiating higher rates with insurance providers, including specific strategies to showcase your professional value and expertise.

• No insurance company will voluntarily offer you a rate increase—you must be proactive
• Call your provider first to learn their specific process for requesting increases
• Create a formal letter highlighting new credentials, specializations, and increased value
• Include specific financial challenges like inflation's impact on your practice costs
• Request specific amounts ($20 more per session or 10-15% increase) for each CPT code
• Make rate increase requests part of your regular business rhythm (every 6-12 months)
• Persistence is key—if rejected, try again every few months as circumstances change

Reimbursement letter template: https://therathink.com/increase-reimb...

Other sources: https://www.simplepractice.com/blog/a...
*Intro/outro song credit:
King Around Here by Alex Grohl

IN THIS VIDEO:
0:00- Insurance Rate Frustrations
0:55- Being Proactive About Rate Increases
3:26- Starting the Request Process
5:29- Crafting Your Rate Increase Letter
8:17- Highlighting Your Professional Value
10:17- Requesting Specific Rate Amounts
12:46- Persistence and Follow-Up Strategy


#podcast #businessfinance #therapist


=============
Ready to rock your business finances? Book a free consultation with us: https://www.craigdacy.com/contact

Take our free profit quiz and get instant clarity into your business' numbers! https://quiz.craigdacy.com