The Contracts screen allows practices to track their pre-negotiated reimbursement rates, for each procedure code and each insurance company. Creating contracts will allow you to run reports to view a history of how payment schedules may have changed over time.
Contracts can be applied to a specific entity such as a practice, provider, office location, facility, tax id, or place of service once associated with the payer. Setting up your contracts will also alert you to instances where a payer is not paying for a service based on the contracted amount.
Who can use this feature?
Users with the Contract Management permission.
As payments are posted and your office begins to track what’s allowed vs what’s paid, we recommend running the Contract Analysis by Contract Report as well as the Contract Analysis by Payer Report in the Report screen to keep track of your payment trends and negotiate future contracts with insurance companies.
Contract rates do not affect prices billed to insurances or other entities. To set your billing prices, please view the Fee Schedule Help Article.