Looking at GI Practice Management Differently: Fortify the Business of Healthcare in the GI Practice | November 2021-14

14 - Achieving Success in Negotiations_Roman

Pdf Summary

Negotiation is a crucial aspect of life that requires effective communication and understanding. It involves dealing with various parties such as payers, hospitals, vendors, landlords, and providers. In order to achieve success in negotiations, there are certain basic principles to follow. First, identify the desired business outcomes and determine the necessary time and information needed. Then, consider who cares about these outcomes and who has the ability to bring them about. Engage with those who share similar interests in achieving these outcomes. <br /><br />To prepare for negotiations, it is important to gather relevant and up-to-date data and information. Create a database with payer contacts and terms, and consider the impact of negotiating with different payers. Understand market rates per payer and their financial portfolios. Additionally, consider the relationships and personalities of those involved in negotiations, calculate opportunity costs, and evaluate the leverage you have in the negotiation.<br /><br />The art of discovery plays a crucial role in negotiations. Extract as much information as possible from the other party and actively listen to their concerns and interests. Craft loss aversion by highlighting the potential negative consequences for them if a deal falls through. Use tactical empathy and open-ended questions to better understand their needs and help them feel safe in the negotiation process.<br /><br />Recognize that negotiation is a human interaction and understanding the heuristics at play can be advantageous. Leverage time to decision and be aware of deadlines and how they may affect outcomes. Practice patience and avoid action-reaction cycles. Separate the people from the issues and focus on finding solutions rather than taking positions.<br /><br />Ultimately, aim for the best possible deal by engaging decision-makers positively and using techniques to help them solve your problems. Remember that negotiation is a dynamic, human process and strive for success by being well-prepared and adaptable. Good luck!

Keywords

negotiation

communication

understanding

parties

payers

hospitals

vendors

landlords

providers

business outcomes