If you are a healthcare professional then you must know what medical credentialing is and how crucial it is in the life of a healthcare provider. To be precise, credentialing is the process through which all your data like educational qualification, license, certification and specialization are verified to make you eligible for authentication. From patients to healthcare organizations to insurance companies, everyone seeks your validated documents before proceeding with any further working relationship.
But the process of credentialing involves a great load of paperwork, which often proves to be time consuming. Since the validation process is so important to judge the history of any provider, this process takes up a lot of time in order to do cross-checks. It is often very hectic for the providers to get all the paperwork done properly by themselves and focus on patient management at the same time.
This is where hiring professional credentialing services come in handy. Can you imagine the time saved by hiring a professional to do all that documentation for you while you can focus on other important things? However, many providers have second thoughts before making such an investment and trusting a company with their critical documents.
This blog will tell you about the ways the professional credentialing services save not only your time, but also ensure greater returns.
1.Minimized errors:
Credentialing is the process through which all your educational and professional verification are done. So it is extremely important that you ensure that you do not have any unfinished or incorrect documents submitted. However, humans are prone to errors and amidst your busy work schedule any kind of error might pop up. Credentialing requires some time to get completed and a single incorrect file can lead to re-submissions and more complications.
Professional credentialing services provide you with experts in this domain who make sure that none of your documents are out of place. Hiring an expert in this field will help you to remain stress free regarding your paperwork. Any leading professional service will guarantee you with error-free and timely work. Experienced individuals in these services ensure that you meet your deadlines with proper documents so that credentialing remains complete and up to date at all times. Proper credentialing is crucial for insurance companies to proceed with your reimbursements. A most important way to keep you in network with them is to have your credentialing done professionally.
2.Cost Effective:
According to many popular surveys, a provider spends around 16 hours or longer per month on the credentialing process. This does not even include the time the staff of a healthcare organization spends on completing the paperwork. Be it an individual doctor or a healthcare institution, a lot of precious time is lost on tedious documentation. You can easily utilize that time on patient management, looking for new prospects or even enhancing your work-life balance.
If you are an individual doctor, hiring professional credentialing services will take a huge load off your shoulders and let you focus on your practice. And with a properly credentialed profile, it will be easier for you to gain reputation from your patients and give you an edge over your competitors.
If you run a healthcare organization, outsourcing of professional services will save your staff a lot of time and lessen human fatigue. Your organization will be driven towards increased productivity which you can utilize to achieve your future goals as an institution.
3.Hassle free Claims and Reimbursements:
Insurance companies get a quality check of your credentialing before proceeding to reimburse expenses. Any incomplete application or an error in your documentation can make this simple process quite cumbersome and even lead to payment denials. Most studies have shown lack of proper credentialing as the reason for denials. This will in turn lead to severe revenue loss and make a dent in your reputation.
To remain in network with the insurance companies and ensure that all your claims are duly reimbursed, your paperwork cannot suffer from any fallacy. By giving this job to professional credentialing services, you can relax and focus on your patients’ health while your documents get completed. You will be reassured of your claims with the insurance companies by industry professionals. Without any significant revenue loss due to a faulty application, you will be on the profitable front in the bigger picture.
4.Guard against Potential Lawsuits:
Compliance with the law is the first and foremost requirement for any business to go ahead with their operations. In case of the healthcare industry it becomes all the more important since the lives of human beings are in the hands of the healthcare providers. A number of patients unfortunately lose their lives every year due to medical errors. To prevent these malpractices, the laws have been reinforced with stricter rules. As a provider, your duty is to comply with all the rules laid by the authorities to duly verify your authenticity in medical practice.
However, it can get very hectic to keep up with the changing laws at times, leading to inaccurate credentialing which might be outdated in the eyes of the law. Professional credentialing services keep you up to date with all recent modifications in the laws. They even assist you with your new profile in case you decide to change your location and need to comply with the different rules in some other state. This prevents you from any legal hassles you might face and guards you from any potential lawsuits. Any legal malfunction can endanger your revenue gain and can be harmful to your reputation in the coming years. It is better to be safe by trusting the professionals to keep you out of unwanted legal battles.
5.Advanced Technology:
It is important to stay in connection with advanced next generation technology since all manual processes done traditionally are gradually shifting to the virtual world. The top rated professional credentialing services also offer dedicated software to their client which makes their task even easier and ultimately helps in boosting revenue cycle management.
The software is designed in a way to reduce the workload of any individual, which is often error-prone. Inquire about the kind of software the companies provide to make your task easier. It is advisable to invest in such a service which gives you all round support so that you can save your time and money.
What should you do next?
You should take some time to look into your work pattern and evaluate how these professional credentialing services are going to help you make it better. Compare the services that the top professionals have to offer and judge which will suit you better. Regardless of what you choose, professional help will be a good investment which will benefit you in the long run.
Hope this blog cleared your doubts about investing in a good professional credential service. For suggestions, you can pen down your questions below and we will try to answer relevant ones. For more queries and updates on healthcare, please subscribe to our blog.