Credentialing is a complex process that can be difficult to manage. It is easy for a paper to fall through the cracks, so do not wait around for your payers to send notice of revalidation/recredentialing. Stay proactive.
In order to avoid delays in enrollment of your independent diagnostic testing facility, the following mandatory documentation should be readily available so that they can be submitted along with the credentialing:
Once all the above items are received and the appropriate requirements are met, the credentialing process may begin!
Payors call it different things: Credentialing, validation, contracting, etc, but no matter what they call it, Medical Credentialing is one area of the revenue cycle process where mistakes can cost your practice 10’s of thousands of dollars just by overlooking one letter or notice. Although painfully boring and time-consuming, it is absolutely crucial for every medical practice and independent diagnostic testing facility.
If you think of revenue cycle management like building a house, payer credentialing is the foundation. If you can’t get the payor credentialing right, you simply can’t get paid. Keeping your credentialing up to date is imperative to getting you paid for your services.
Medical Credentialing is becoming increasingly important because it is the procedure that allows patients to trust their healthcare providers. Through a standardized process that involves data collection, primary source verification, and committee review, patients are assured of their healthcare professional’s merit and experience.
Credentialing new providers for insurance payors and enrolling providers for the facilities they serve is a time-consuming and detailed requirement of every medical practice. Most physicians view this as a necessary evil and find it extremely undesirable. For that reason, they will put off the paperwork until it’s too late. With little time to work through paperwork, problems arise. Common credentialing errors cause scheduling delays, fluctuation in revenue cycle, and much more.
It’s important to take the appropriate amount of time necessary for credentialing, instead of waiting a month before a new physician arrives.
Failure to complete enrollment and submit proper (and often timely) credentials for an individual provider or physician, can lead to a significant revenue loss.
Don’t let credentialing overwhelm your practice, causing revenue cycle delays, denied payments, or worse. Get the help you need; hire a healthcare solutions company to manage the medical credentialing process for you.
At MEREM Healthcare Solutions, we would love to help you with the following medical credentialing services:
Are you interested in hiring or outsourcing to a medical credentialing company? If so, contact MEREM Healthcare Solutions today! Feel free to call (205) 329-7519 if you have any questions about our onboarding process or if you are seeking medical credentialing services for your practice.
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