People who do not prepare for the long term will typically face problems before long, and this is especially true for healthcare providers. Physician credentialing is an integral part of the industry, and a single month delay can lose a medical practice around $30,000! This number only climbs higher when related to higher billing specialties, meaning healthcare providers must be effective planners for their physician credentialing procedures to make sure that their cash flow is as smooth as possible. Here are some steps you should follow that will help keep your physician credentialing process organized.
Get Started Early
Physician credentialing can often be done between 50 and 90 days, but it is a good habit to give your practice as much as 120 days. This is due to the payer’s internal timeline, which will be different for every payer.
With this timeframe in mind, you are going to be better off beginning your physician credentialing process earlier on, ideally before you hire.
Pay Close Attention to Detail
When getting your applications submitted, be sure to do your due diligence. There are plenty of physician credentialing delays that occur as a result of having missing or incorrect information. Even these simple errors can lose you a significant amount of money. Because of this, it is imperative that your team pays close attention to all of the information when they are handling your physician credentialing process.
It would be best if you did a double-check and make sure that every entry has been filled out the right way. This will make your physician credentialing process more efficient. You also will not have to bother with re-applying.
Understand State Regulations
State regulations are going to be different across the country. There may be some states in which physicians who are credentialed by Provider A from a different state are streamlined in theirs. In contrast, there might be states that permit physicians to not have to deal with the entire credentialing process all over again while moving between practices within that state. For reasons like these, you will want to stay in the know at all times with regard to whatever state regulations are in place.
The physician credentialing process can take a long time to carry out if you do not have the necessary information from the get-go. But if you follow all the advice listed above, you can make the process significantly quicker and make it much more efficient.
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