Negotiating a raise with insurance companies

Negotiating a raise with an insurance company

 

So can you get a raise with an insurance company you are in network with? The answer is yes. Here are a few tips on how to do it.

1. Check your contract first. Some insurance companies never give raises. A few of them have it in their contracts that they do not negotiate with individual providers. Check that out first.

2. Find where you send the request. This can be the most challenging part of this process. If possible you want to make the request to a provider relations worker and you want a direct name. However, many companies do not give that information out so you have to send it to a general mailbox. I still have had success doing that.

3. In your request be brief and let them know why you deserve a request. Make sure you emphasize something you do that is different. If you have some specialized training or work with a population that not every therapist works with. They don’t care that they haven’t given you a raise in many years. They do care if you offer something that is in limited supply.

4. Be persistent. Seriously. Send the request and then follow up every 2-4 weeks on it. Two of the three times I have negotiated a raise I corresponded with the company at least four times before I got a real response.

5. Ask for a generous increase. I have had an insurance company just give me a larger amount I requested and another one negotiated down some. So ask high and expect them to counter offer.

6. Be creative. Recently I got a response from a person from a general email and then they stopped responding to me. I did some research on how this company formatted their emails. Most companies do that in a standardized fashion with last name and first names. I then emailed them directly and got a response within a day.

7. Once you get the offer you have to usually send in a new W-9. Then it can take a few months for a new contract to be signed and for it to go into effect.

Photo Copyright: jk1991 / 123RF Stock Photo

2017-10-09T23:19:23+00:00