{"id":320,"date":"2019-07-02T12:58:21","date_gmt":"2019-07-02T12:58:21","guid":{"rendered":"http:\/\/www.mgsionline.com\/blog\/?p=320"},"modified":"2019-07-02T12:58:23","modified_gmt":"2019-07-02T12:58:23","slug":"how-much-wasting-on-physician-credentialing","status":"publish","type":"post","link":"https:\/\/www.mgsionline.com\/blog\/how-much-wasting-on-physician-credentialing\/","title":{"rendered":"How much are you wasting on Credentialing?"},"content":{"rendered":"\n
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What is the most problematical and tedious process of all the medical billing functions? \u2018Physician credentialing<\/strong>\u2019 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\u2019s discuss more about physician credentialing and ways of carrying it out efficiently and cost-effectively:<\/p>\n\n\n\n

An Insight on Provider Credentialing: <\/strong>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<\/a>. 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).<\/p>\n\n\n\n

Impact: <\/strong>\u00a0As 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.<\/p>\n\n\n\n

Solution: <\/strong>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.<\/p>\n\n\n\n

Advantages of Outsourcing:<\/strong><\/p>\n\n\n\n