How does an independent practice get started with Medicare Advantage?
When I was first starting out, if our little practice in rural Missouri wanted a fee-for-service insurance contract we practically had to send up fireworks to get an insurer’s attention.
It was all about market share back then. And compared to the larger systems, we didn’t have it.
We had to beg for an off-the-shelf contract—one that was very disadvantageous to us, one we would barely accept.
Now it’s different.
Now, the insurers are not as interested in market share, it’s about accelerating revenue growth.
If you can keep your medical loss ratio low and your panel numbers growing—even for a modest-sized panel, Medicare Advantage insurers want you. Desperately so.
They understand that they make their money from innovation in health care delivery and the efficiency that results. Exactly the sorts of things that large healthcare organizations can’t deliver.
That’s why, if you are an independent medical practice and you call your insurer to enquire about a contract, you’ll now get a better one than the contracts they offer the big systems in your area.
A much better one.
Did you call and ask a couple of years ago and get brushed aside?
Try again, the pace of change is accelerating. You might be surprised with their response this time.
So how do you get started on your own Medicare Advantage practice?
Call an insurer and ask for a contract
They’ll be very glad you did.