Before your next professional interpretation contract renewal is here, take some time to assess if your situation has changed since the last go around. Below are 6 things to consider before renegotiating your coverage arrangement.
1) Are you adequately staffed? Does staff take adequate vacation time (not accrued, but taken)? If not, could you afford to hire someone if you wanted?
2) If you are trying to recruit, is your offer competitive? Is compen
sation for existing staff competitive? How do you compare to benchmarks?
3) Are there any coverage requirements that inhibit your productivity in any way? How does productivity compare to benchmarks on the basis of reads or wRVUs per staff person?
4) Is payor mix problematic relative to other contracts? How do collections per read (or wRVU) compare to other contracts?
5) Beyond basic coverage requirements, how does your group perform with respect to peer review, false-positiv
es and false-negatives, turnaround time, STAT exam proportion of total exams, new program development, number of group publications, and involvement in client’s marketing efforts?
6) Has your group’s malpractice insurance premiums increased during the last two years?
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