Doctors routinely complain that they have puny leverage when negotiating with health insurers, especially Anthem Blue Cross and Blue Shield, which has more than 42-percent market share in the Indianapolis area.
So in response, the Indianapolis Medical Society wants to arm its physician members in their contracting battles with insurers.
The group has partnered with Cincinnati-based Praesentia Consultation LLC to offer its Benchmark Database at a discount to society members. The online database allows physicians to compare the reimbursement rates they receive from three different health insurers against the average negotiated rates in the Indianapolis market. The database includes reimbursement rates for 450 procedures.
"We are making use of one of their services in our practice and are very excited about the value and cost-effectiveness of the service,” society board member Dr. Christopher Bojrab said in a statement.
Praesentia insists that its service complies with the Federal Trade Commission's antitrust regulations, including confidentiality protections.