Get Maximum Reimbursements!

Healthcare providers seek to increase their patient base by accepting patients with specialized insurance plans. They must first comply with the strict requirements of these insurance providers. This means they will need to move endless paperwork back and forth, often using online resources. After completing the application, the medical billing services providers can begin contracting. This will allow them to receive insurance reimbursements for services they have rendered under their in-network provider status. The insurance company calls this process credentialing.

Credentialing (also known as primary source verification) is a lengthy process in which the insurance company performs at the background check of the doctor. They verify the qualifications, skills, and legal authorization to practice medicine by the healthcare provider. There are many factors that affect the turnaround time for credentialing.

If all goes well, the insurance company will extend a partnership contract for the provider to include them in the network. For claims that were filed before credentialing, it is unlikely that an insurance company will offer in-network status. You can avoid uninsured claims by submitting the application quickly and verifying all information.

Then comes the application process as it is the first step to achieving in-network status. Make sure you have the latest version of the application form from the insurance carrier before you submit your application. An outdated application form can cause delays or even denials. Make sure that each section is complete. Any delay in processing paperwork can lead to delays in your in-network status.

Double-check that supporting documents are attached to any application if they are required.

Things can sometimes get lost during transit. Keep a copy of all credentials application materials you submit.

Over the last 50 years, credentialing has evolved to be more precise and thorough. Today, there are many national agencies that work to maintain the standards for credentialing healthcare providers. The National Committee for Quality Assurance has developed a set of criteria to guide healthcare providers on the know-how about credentialing. As it relates to credentialing, one of the essential features is to check with the primary source for any certificate, diploma, or degree. It is not enough to ask the healthcare provider for a diploma or degree. The licensing board or healthcare institution must also verify the source of education and training. You should also obtain information about any malpractice claims, as well as other factors that could have an effect on your clinical practice.

Maintain Patient Safety

Credentialing is a way to ensure patient safety. It makes sure that both doctors and practices have the skills and experience to perform any procedure on patients. Credentialing helps to reduce the chance of medical mistakes that could be caused by incompetent doctors. Credentialing, with all of this background knowledge, helps restore trust between patients and medical practices. Knowing that their doctors have the qualifications and merits to be their preferred providers allows patients to trust them fully.

Prevent Losing Revenues

Proper credentialing will help medical practices avoid losing thousands of dollars from denied or delayed reimbursements. Insurance payers may refuse to pay for medical practices’ treatments if they make mistakes or fail to properly credential them. If a medical practice permits a doctor to provide services before or during credentialing, the insurance payer might be able to backdate reimbursement to cover those treatments.

Increase your Patient Base

Because it allows doctors to accept paints that are covered by their health insurance, physician credentialing gives medical practices access to patient bases previously unavailable to them. The majority of Americans have health insurance plans; in 2019 alone, 92% of Americans have health insurance coverage. This allows medical offices to grow their client base and possibly increase revenue streams.

Improve Your Practice Reputation

Patients are now more interested in researching the doctors and healthcare providers they use before making a commitment to them. You might check their credentials or read reviews from patients online. One of the best ways you can boost your online reputation is to obtain medical credentialing. Potential patients will look at your credentials to determine if your practice is reputable and worthy.

Enhance the Hiring Process

A physician must undergo a thorough exam to be granted benign credentialing. This includes a review of their educational history, work experience, and other factors. This process is necessary if your medical practice hires a physician who needs to be credentialed.

Give Your Company a Competitive Edge.

Medical practices need to be able to differentiate themselves in a competitive healthcare market. Credentialing in medical medicine shows potential patients that your practice has doctors who are skilled in the specialty they specialize. Credentialing can also help you recruit qualified physicians for your course. Your medical practice will have the edge over others in your market by obtaining medical credentialing. This will allow you to continue your growth.