Know when to hold 'em, fold 'em. A tool to project expected provider pay from contracts.
The authors present a method to approximate costs of multiple individual practices. The formula approximates costs, builds in an acceptable profit margin and encourages productivity. In addition to developing a rational, analytic approach to pricing, they describe how they convinced the organization's physicians that its managers negotiated fair fees for them and that they would maintain their incomes if the organization achieved a predetermined level of fees.
Fernandez
Ray
R
Crane
Berney
B
Reed
Jack
J
D019985:Benchmarking; D004470:Economics, Medical; D006801:Humans; D007388:Internal Medicine; D008329:Managed Care Programs; D017008:Negotiating; D010820:Physicians / Q000191:economics*; D012051:Reimbursement Mechanisms; D015895:Relative Value Scales; D013038:Specialization; D014481:United States