If you are running a rehab facility or a medical practice, physician credentialing is an essential and mandatory process to avoid malpractice suits, claim rejections and many more hassles that one faces with the officials. Credentialing, however, is a laborious process, involving the collection of data, verification of the collected data, submitting the same to the licensing authority and finally, evaluating the whole process. Although it is a crucial process to any clinical practice, it can take a whole lot of time to complete. Availing the benefit of a physician credentialing service can aid in making the process swift and efficient.
Outsourcing physician credentialing can prove beneficial to the business because:
- Maintain Accuracy– Credentialing is a serious business, with a great detailing to be done by an expert. Any errors or mistakes can create wastage of time, and can also prove to be detrimental to the clinical processes in the future. Outsourcing it to an expert team or an experienced company dealing with it day in and day out can save errors and bring in accuracy.
- Save time and effort- Credentialing, as we have ascertained before, is a time-consuming business. With the Affordable Care Act, several more people are getting enrolled in the insurance system, and thereby more physician enrolment applications are coming in. This means more time for processing applications, and completion of procedures, not to forget the time consumed for collecting all information. Outsourcing it would save your work hours, which can be put into use for building your business.
- Reduce Cost – Outsourcing Physician credentialing has been found to save up to 40% of the operating cost. This cost excludes those which might be spent on delays in the procedure, or error corrections.
Typically, every insurance panel has hiked up their credentials list to ensure efficient practices in claim processing. What this means is extra work for the clinics and health care organizations to ensure the credentialing is done according to the framework provided.
Since an outsourcing Partner is adept at dealing with Physician credentialing, and know the frequent challenges and changes in the system, they can help with Credentialing, Re-credentialing etc.