Medical credentialing is a long and tedious process. It’s also vitally important if you want to protect your medical practice as it grows. Medical credentialing is the process of confirming the credentials of prospective medical practitioners. If you don’t go through the process, you’re essentially just taking someone’s word that they are a doctor who is allowed to practice medicine – and if they make a mistake, that will come back to cost your medical practice. While medical credentialing is an investment, it is an important one to make. Read on to learn why.
Build Trust
One of the most significant benefits of medical credentialing is that ensuring you do it from every provider improves your reputation and the patient experience. It gives patients and prospective patients peace of mind that they can trust you. Trust is the most important relationship between healthcare providers and their patients. By showing that you put the time and effort into fully credentialing all prospective providers, you show patients that they can trust your judgment and process. It also shows them they can trust the new providers if they become patients. Finally, the information gathered in the credentialing process can become part of your online marketing on your webpage since researching is a massive part of finding a new provider for prospective patients.
Improve Your Bottomline
Medical credentialing helps to both prevent revenue loss and improve income. If your practitioners aren’t fully credentialed, you could lose out on being reimbursed by insurance companies. Credentialing also improves potential income by allowing you to accept patients with insurance since you can only work with insurance companies if you credential your providers. Proper credentialing also protect your practice from lawsuits. Being able to show that you correctly credentialed the practitioner before hiring them and periodically as required can help you avoid fines and legal fees if they ever make a mistake.
Decrease the Risk Of Medical Errors
Finally, medical credentialing can help decrease the risk you hire providers who make a mistake. Providers are still human, so there is always the risk that they will make a mistake. Credentialing reduces that risk by limiting the likelihood that it is due to incompetence and allowing you to trust better that they know what they are doing. Some of the most common medical errors include prescription and drug interaction errors, patient-doctor miscommunication, and mistakes based on incomplete records. Your credentialing process should show you if any practitioners have a history of these mistakes or any other malpractice and if they are up-to-date on drug screenings, immunizations, and liability insurance, among other things, so that you can choose not to hire them.
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