What is the most problematical and tedious process of all the medical billing functions? ‘Physician credentialing’ was the answer provided by most of the healthcare organizations. It is not only a long process but an expensive one too. Credentialing a single Provider can take at least 4 to 6 months and range from $500 to $3600 approximately. In addition, provider credentialing involves a lot of paperwork. If credentialing a single Physician costs so much time and money, then imagine how much a huge healthcare Practice would spend to credential every single Provider in its organization. Overall, the credentialing process can affect Providers from concentrating on patient care if carried out in-house. Let’s discuss more about physician credentialing and ways of carrying it out efficiently and cost-effectively:
An Insight on Provider Credentialing: The process through which Providers are checked for their credentials like education, background, licenses, and more before starting their career as an independent or in a large Practice is called Physician Credentialing. These verification’s are done to make sure that all Providers meet the regulations and standards set by the National Committee for Quality Assurance (NCQA) and The Joint Commission (TJC).
Impact: As discussed earlier, provider credentialing is a time and money-consuming process. Also, it is not a one-time process, as Physicians have to be re-credentialed for every two years and the whole process repeats if they happen to join a new organization. Down the lane, medical practices end up wasting huge sums of money and time.
Solution: The best solution for healthcare organizations to minimize the wastage of time and money on physician credentialing would be outsourcing. This way, both large-scale and small-scale medical practices can cut down on credentialing costs and save ample time. They can rather spend their valuable time on patient care services.
Advantages of Outsourcing:
- The Physical Credentialing process differs from state to state and carrier to carrier. These complexities will be taken care of the experienced medical billing companies easily.
- A dedicated team will be deployed to take care of all provider credentialing operations.
- Right from making phone calls and submitting applications to following up on the status and sending emails/faxes, the dedicated team in the medical billing company will handle efficiently.
- All the information will be stored in a secured database assigned specifically for physician credentialing.
- Using large automated data centers and top-notch software & technologies, an experienced medical billing company can fasten the credentialing process.
About MGSI:
If you are searching for a highly-experienced medical billing company to outsource provider credentialing services, then look no further than MGSI. This leading medical billing outsourcing company is based in Florida and has more than 20 years of experience in the healthcare domain. With its state-of-the-art technology, MGSI minimizes errors and expedites the credentialing process. It also maintains and updates CAQH profile regularly. To learn more details, log on to www.mgsionline.com.