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

14 - Achieving Success in Negotiations_Roman

Pdf Summary

In this document, Rick Roman, the President of South Denver Gastroenterology PC, discusses tips for achieving success in negotiations. He highlights that negotiation occurs in various aspects of life and involves communication with results. He mentions the different entities one may negotiate with, such as payers, hospitals/systems, local PCP networks, vendors, landlords, and providers.<br /><br />Roman suggests focusing on the basics of negotiation, which include identifying the desired business outcomes, determining the necessary time, gathering relevant information, identifying the stakeholders who care about those outcomes, determining who has the power to bring about those outcomes, and finding the best way to engage those who share similar interests. He notes that negotiation involves information-gathering and being open to modifying one's outcomes based on new information.<br /><br />The document provides guidance on how to prepare for negotiations, such as creating a payer database and researching market rates per payer. Roman emphasizes the importance of considering relationships, opportunity costs, hospital revenue, and alternative options during negotiations.<br /><br />He advises engaging the right parties, developing relationships, maintaining a positive attitude, and considering the perspective of the negotiators on the opposite side. Roman also highlights the significance of active listening, using open-ended questions, and utilizing tactical empathy and labeling techniques to understand the other party's interests and find solutions.<br /><br />The document mentions the influence of loss aversion and heuristics in negotiations. It suggests using leverage by defining time to decision, setting deadlines, and avoiding reactive behavior. Roman concludes by emphasizing the importance of doing thorough research, focusing on issues rather than positions, and aiming for the best possible deal.<br /><br />Overall, the document provides practical tips and strategies for achieving success in negotiations, emphasizing the importance of thorough preparation, effective communication, understanding the other party's interests, and utilizing various negotiation techniques.

Keywords

negotiation

success

communication

entities

payers

hospitals

PCP networks

vendors

landlords

providers