Price: Member: $196.00 | Non-Member: $396.00
Continuing Education Credits (CECs): 3 hours
Take your negotiation skills to the Master Level with techniques and best practices used by professional negotiators. Negotiation takes practice. But even more, it takes preparation…and lots of it. It’s been said that 90% of a negotiation is in the preparation, and without your facts and your team, all of the negotiation skills and leverage you think you have won’t matter at the end of a negotiation. Recommended Prerequisite: Essentials of Negotiations Certificate
How this session relates to the Cost, Quality, and Outcomes (CQO) Movement:
Reduction of cost is typically the first function that comes to mind when considering negotiations. However, expert negotiating skills are used to address much more, including the negotiation of strategic contract elements that address the continuum of care, including population health, bundled payments care improvement (BPCI) initiatives, etc.
Part 1: Introduction to Negotiations – Level Setting
- Distinguish the key characteristics of a good negotiator.
- Illustrate methods for defining negotiation objectives.
- Translate the ethics of negotiation and their effect on outcomes.
- Pinpoint negotiations team members and each of their roles.
- Form the basis of specific bargaining strengths.
Part 2: Uncovering Total Purchase Value
- Explain the importance of preparation.
- Negotiate specific terms and conditions using outlined methods.
- Compare and contrast the outcomes of discussing pricing verses terms and options at the beginning of a negotiation.
- Identify the total cost of ownership of a product.
Part 3: Constructing your Position/Knowing your Seller
- Deconstruct a seller’s RFP response or quote.
- Identify areas in a quote that can be negotiated.
- Question the seller to determine the seller’s position and flexibility.
- Role-play negotiation “arguments” using appropriate statements.
- Practice several methods to gain bargaining power.
Part 4: Logistics of the Negotiation Act
- Create a negotiations meeting agenda.
- Discuss the reasons to nail down each meeting logistic.
- Prepare your arguments or talking points for the negotiation.
- Identify potential issues during the meeting and how to address them.
Part 5: The Act of Negotiating
- Ask fitting questions to uncover the seller’s bargaining position.
- Outline the pros and cons of being the first to make an offer in the negotiation.
- Discuss appropriate responses to a low ball offer.
- Use various bargaining tools to reach an agreement with the seller.
Part 6: Completing the Negotiation
- Explain the difference between a contract and a memo of understanding.
- Conduct a debriefing meeting with your team.
- Outline the guiding principles of successful email and phone negotiations.