5 Best Things To Know About Medical CredentialingMed Miles LLC
Most people think that credentialing is just like a paperwork task, but in reality, it is important and essential because it enables patients to surely trust their healthcare providers.
Moreover in today’s digital world, with the influx of new innovative technologies in the healthcare industry, credentialing has become the key area increasing productivity and simplifying workflow.
Whether you are adding a new physician or opening your practice, it is important to start the credentialing process early to avoid potential problems.
If you ignore the importance of the Medical credentialing process soon you will experience cash flow delays, scheduling difficulties due to patient restrictions, and multiple phone calls to and from payers.
What Is Credentialing?
Medical credentialing is the process by which medical organizations, insurance networks, and hospitals evaluate and certify the qualifications of a healthcare provider.
In other words, it is used to assess the educational background, training, and practical history of a medical provider.
What Is The Purpose Of Medical Credentialing?
It is done for the verification of the healthcare provider’s qualifications, including education qualification, career history, training experience, residency and licenses specialty certificates, and other qualification details.
Do you know about the accurate time for medical credentialing? We will tell you, the best time to perform credentialing is before hiring a healthcare provider or during the hiring process it is very important to make sure that all the information stays up to date.
Duration Of The Medical Credentialing Process
The credentialing process requires anywhere from a few days to a few weeks. This may depend, however, on the appropriate authorization field, the verification procedure, the correctly completed application, and the availability of all necessary documents.
It is important to understand that it will take some time. Credentialing can take anywhere from 90 to 150 days, depending on the market. Give yourself enough time to fill out the application.
Typically, before a health plan contracts with a health care provider or a hospital can provide identification documents, physicians have to go through a tedious process of getting their identification documents processed.
However, this burden can be significantly reduced. Electronic Credentialing processes offer organizations efficiency, therefore reducing the pressure on all stakeholders and positively impacting quality.
In this blog, we tell you about the 5 best things about medical credentialing and its importance for healthcare providers. Let’s have a look!
1. Medical Credentialing Improve Patient Trust
In the healthcare system, it is essential to have a trustworthy relationship between health care providers and patients. With trust, patients can discover and disclose information politely through a perception of better care and greater acceptance of the recommended treatment.
Patients who don’t know about their doctor’s qualifications are less likely to put their full trust. Evaluation and credentialing of hospitals and health care providers assure patients of the merit and experience of the health care provider, allowing them to trust the providers they choose.
2. Prevent Healthcare Organizations and Hospitals From Losing Revenues
Losing your practice revenue? Then start your credentialing process today. Every healthcare provider needs to cooperate with insurance companies.
Doctors and other health care providers are required to make a list of insurance verifications if they are to be considered for reimbursement.
In case if you fail to obtain proper credentialing then you might experience revenue losses.
3. Lowers The Risk Of Medical Errors
It has been estimated that about 98,000 Americans die from medical errors each year. These alarming statistics are causing industry leaders to agitate for higher standards of competence and disciplinary action against medical professionals.
Credentialing medical professionals, more of them independent, helps reduce the risk of medical errors that can be caused by incompetent physicians.
Also, because the electronic workflow uses automation tools, there is no room for human error or fatigue that is associated with the manual evaluation process.
4. Improves The Reputation of Healthcare Doctors
Healthcare professionals need to manage and take control of their online reputation because now patients are more researching about their healthcare profession.
One of the most important steps to increase your practice reputation is by doing Medical Credentialing. The healthcare provider who has done this process is allowed to treat all patients irrespective of their insurance plans.
Because a practitioner can work with a wide variety of patients, he or she is likely to earn a reputation in every corner of the world.
5. Protecting Medical Organizations Potential Lawsuit
There are laws in many states that require that legal documents, such as prescription records and medical records, be labeled with authority.
Moreover, this law also includes some professional activities including legal testimony, speaking engagements, and research publications. The hospital may miss important things required by law without proper credentialing.
However, credentialing ensures that the health care organization follows the letter of the law.
The medical credentialing process has become more important in the healthcare industry. As the healthcare industry is looking for a cost-saving approach to ensure greater patient safety. It will help providers from many liabilities, risk of compliance violations, and uninvited lawsuits.
How MED-MILES LLC Can Help?
Our experienced and professional team collects and reviews all necessary documentation to ensure completeness and accuracy. We take your unnecessary tasks such as credentialing that will help you to get maximum reimbursements. Want to know more? Call our experts at +1 888-598-9181