Do you spend valuable time searching for your signed managed care contracts every time you need them?

You know you need to safeguard these contracts for reference and liability and keep them in a safe and convenient place, but what can you do to make accessing these contracts smoother? Organize!

Why waste priceless practice time when you could have these important documents organized and at your fingertips. Having your managed care contracts organized will assist you in making better decisions when it comes to choosing which managed care plans are right for your practice.

Plan of action

Each original managed care agreement should be in a separate file folder labeled with the managed care company name with its own cover page. Creating a cover page summarizing the contract specifications will help you and your staff locate and reference the document without having to reread the entire agreement.

Each file folder should then be in one hanging folder labeled “original managed care agreements” with an additional copy of the cover page kept in a three-ring binder labeled “managed care plans” at the insurance or front-desk area.

The process should be something to the effect of:

1. Make a list of all the managed care plans you participate in.

2. Locate the original contract for each of these plans. (This may take some time if you are not already organized, but must be done.)

3. Take one agreement at a time and review it — using a highlighter to note specific items in the contract your office must be aware of. For example: Specific codes required by the plan, pay structure, late submissions, late payments, and CPT allowable codes. Highlight the specific area on the page, write the topic and page number on a sheet of paper to be noted on the cover page.

4. If specific forms are required by the plan for reimbursement or authorization, find out where to obtain these forms and keep a clean copy of the form with the original agreement as well as in the three-ring binder. Keep original forms in a plastic sheet protector to avoid becoming worn.

5. Complete the cover page and make a copy for the binder.

6. Once one managed care plan is completed, begin the next until all your current plans are organized. Continue to use this procedure for any plans you sign on for in the future.

Handling updates

Contact your managed care carrier and find out how they notify your practice of updates and changes, such as mail or e-mail. Assign a staff member to receive these updates, but make a note for your records in case there is a staff turnover so you can reassign this task and still receive your updates without interruption.

When updates to a plan are sent from a managed care company, the person you assigned to receive these updates must read all the managed care information and updates, highlight the changes that specifically effect procedures or fees, and have him or her inform you — as well as note the changes on both cover pages.

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