Hello!
I'm a biller for mental health providers based in WI. This may be a dumb question, but since I only do their billing and I don't work with credentialing, I'm not familiar with how contracts are set up and what information the provider has access to once getting on an insurance panel.
A few of the providers I work with (all practicing as individuals) are considering raising their rates. My first question is whether or not I am able to find out what the maximum reimbursement rates are for the insurance panels that they are on, outside of calling each of the insurance companies and asking. I understand that the provider needs to have the same fee schedule across the board, but they would like to have that information to help determine their new rate.
And my second question is whether there are any steps the provider needs to take before they can raise their rates. For example, do they need to inform the insurance companies that they have contracts with, prior to raising it? And do they need to notify all of their current clients and provide them with an updated fee schedule? Are there any other obvious things that I should be aware of?
Any and all feedback would be greatly appreciated, as this is not at all something I'm familiar with. Thanks so much!