From the course: Selling into Industries: Healthcare
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Contracts
- Woo-hoo! It's looking like a deal is finally on the table, and it's time for the contract. But with health care contracts come a lot of rules and regulations, more rules than any other industry. There are rules about the provider/patient relationship. The payer system is subject to rules and regulations. And your relationship to the provider is also governed by rules and regulations. The government regulates things like cost, privacy, patient safety, and pretty much everything else. If you're selling to a provider, you'll likely have more red tape than if you're selling to a supplier. Take Medicare and Medicaid for example. Medicare typically covers our elderly population, while Medicaid covers people without insurance, like an expectant mom or someone who's temporarily unemployed. If you're a supplier, making sure your product or service qualifies for reimbursement through Medicare or Medicaid is a deal breaker. The Health Insurance Portability and Accountability Act is another…
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