How to Balance Insurance Plans in Private Practice | Sit and Stay Podcast

What is a payer mix and why does it matter?

In this episode, we unpack how the balance of insurance plans and revenue sources affects your practice’s financial health.

Tom shares how he sets fair caps on low-reimbursing plans, explains why transparency with patients matters, and breaks down the pros and cons of accepting more insurers versus negotiating single-case agreements.

Sit and Stay is presented by RipsyTech, an electronic health record company committed to addressing the mental health crisis in the United States.

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Join us in setting a new standard for mental health care, and we'll help you make your practice perfect.

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About RipsyTech:
RipsyTech is a leading behavioral health EHR platform that provides a streamlined workflow, transparent patient outcomes, and simplified billing systems. RipsyTech empowers behavioral health professionals to deliver exceptional care while keeping their administrative workload to a minimum.

0:00 Introduction
3:59 Why is it important to pay attention to the payer mix at your practice?
7:39 How do you fairly limit the number of clients on a specific insurance plan?
14:50 How do you handle denying services to patients based on payer mix restrictions?
19:17 How diverse should you try to make your payer mix?
25:03 How can you effectively justify the reason for a single case agreement for patients?
29:46 How do you decide when to keep an insurance contract or drop it?
35:11 The Mental Health Business Moment Of The Week.
40:13 Conclusion