Using any healthcare software solution or providing services without medical credentialing can be very challenging. Medical credentialing is necessary for any forward-thinking medical practice or healthcare provider to succeed in the healthcare industry. Providers like doctors, dentists, and other healthcare professionals must demonstrate the required education, training, and licenses to provide healthcare services in their region. Continue reading to get an in-depth understanding of “what is provider credentialing in medical billing.”
A provider’s information is verified through a process called provider credentialing or medical credentialing in medical billing, which healthcare facilities and health insurance companies utilize to confirm their qualifications, expertise, and background. All clinicians requesting clinical privileges must complete the credentialing process before getting permission to practice on-site.
In the past, gaining provider credentials was a time-consuming, paper-based procedure that may have taken more than three months to finish. It significantly affects a person’s capacity to collect medical benefits when delayed.
Need for Trusted Credentialing Providers
By examining and submitting documentation to evaluate provider participation in a health plan, the most acceptable revenue cycle management company assists you in streamlining provider credentialing.
Dependable and effective credentialing services take care of filing and tracking enrollment and credentialing requests following insurance plan specifications, which saves time and hassle.
These are just a few of the key reasons why it is crucial to appreciate your facility’s credentialing operations and take the necessary steps to guarantee that they have been carried out accurately every moment if you want your healthcare company to continue to succeed or develop. If you want to learn more, “What is provider credentialing” read this article further.
Credentialing Boosts Credibility and Trust
A robust healthcare system is built on trust, especially concerning good patient outcomes. When there is a lack of trust between them, patients are less likely to be open and honest with doctors about their medical history, current concerns, illness symptoms, etc. Patients feel more secure about their position in the healthcare system when they know that the doctors and other medical professionals with whom they engage are appropriately qualified to carry out their duties professionally.
Credentialing Helps Increase Revenue
Healthcare organizations and individual medical practitioners can increase revenue by working with health insurance firms. A payor contract is an arrangement between an insurer (or payor) and a healthcare provider.
According to payor contracts, practitioners must have the necessary certificates for their services to be covered by the agreement and paid. Therefore, if your medical practice cuts corners throughout the credentialing process, you risk subjecting yourself and your practitioners to financial damage.
Credentialing Minimizes Rate of Medical Flaws
In the United States, medical errors contributed to a large number of deaths annually, making them the sixth greatest cause of mortality. These flaws consist of the following:
- Missing patient medical records
- Overcrowded facilities
- Physician-ordered prescription errors
- Adverse drug events
- Understaffed clinical areas
- Poorly managed and overly complex workflow patterns
Even while some of these mistakes result from human error, you can lower the overall risk of medical errors by properly certifying each practitioner in your clinical practice.
Credentials protect you from lawsuits
It will be vital in court to keep complete and accurate records of each practitioner’s credentials. Suppose a malpractice claim is brought against a healthcare provider working at your facility. In that case, you must show that you have examined each practitioner’s credentials and updated checks as appropriate. In this case, you can lower the possibility that you and your business will be sued. You’ll protect yourself from accountability and save money by avoiding expensive court-related fees.
Credentialing Improves Reputation
The dissemination of information has allowed patients to research healthcare providers before deciding to work with them as their providers. This practice of reading and evaluating has become increasingly common as people become more digitally aware, making it more and more important for healthcare facilities to consider it. To do this, healthcare facilities and providers must maintain a positive online reputation.
Medical credentialing helps people verify their qualifications to deliver patient care services through medical credentialing, which also improves their credibility. It enables the physician to see more patients, bringing additional business to your hospital and fostering the growth of the entire healthcare system.
Medical Credentialing Process
It can take several days to weeks to complete the medical credentialing process. It can vary based on the field you are seeking credentials in and whether you have supplied all the necessary supporting documentation and accurately completed the application. As a result, it is usually recommended to begin the application process 90 days before your start date at a new facility.
Ninety days gives the CVO some wiggle room in case verification entities take longer than expected to reply to requests or the CVO needs to look into inconsistencies for clarity.
Verification and assessment come first in credentialing, followed by review and approval. The time it takes outside sources to respond when they need to verify the information is primarily out of the CVO’s control. If they don’t react, the CVO will send them more requests, which could result in lengthy delays.
Ensuring your application is accurate and filled out and supplying supporting papers will help the process move more quickly. You can also get in touch with your sources for verification and ask them to send all requests for verification as soon as they can via mail, fax, or email. Additionally, if you continue to have licenses, this could lengthen the process considerably. Before applying for credentials and privileges, wait until your licenses get authorized.
Essential Steps for Credentialing a Provider?
- Write a list and compile all the data you require for provider credential requests, including a professional license, work history (on a resume or curriculum vitae), certifications, a certificate of malpractice insurance, references, information about the practice’s ownership, a W-9 form, background checks, bank statements, and more.
- Obtain the National Provider Identifier (NPI), Federal Tax ID, and Practice EIN listed on the provider’s W-9 form.
- Obtain the provider’s CAQH ID and register them with the organization. Verify that the provider’s malpractice certificate and W-9 are current with CAQH. Verify the “month/year” formatting of the work and educational dates. If you don’t include accurate dates, CAQH will reject your application.
- Additionally, every three months, CAQH will email the provider to “re-attest” that the data in the profile is valid; always act quickly.
- Verify whether processing the credentialing request requires the provider’s original handwritten signature.
- Fill out and deliver several applications to each insurance payer.
- Once you’ve done the initial credentialing review, get a “reference number” from the insurance payer and note it in your credentialing tracking records.
- Follow up with insurance payers to inquire about the provider’s credentialing application progress; if anything is missing from the application, they are notorious for hanging up the phone when contacted. Keep track of every online or telephone follow-up conversation you have during the credentialing process.
- Check that the payer information in your billing system is current. Before signing a credentialing agreement with an insurance payer, review the fee structure carefully. It could be necessary for you to ask for a price schedule and to give the payer your top 20 billing codes.
- Maintain copies of any contracts, applications, and enrollment letters you submit for credentialing and those you receive from the insurance payer.
Credentialing Provider Rights
Regarding the credentialing and re-credentialing procedure, credentialing providers have the following rights:
- A provider’s application for credentialing or re-credentialing must be disclosed, along with its current status. Within 30 calendar days of a provider’s request, the concerned department respond with a description of the application’s status. This status indicates whether the application is undergoing verification, is being reviewed and decided upon, or has already received a credential determination.
- Besides references, recommendations, or other material shielded from peer review, providers can examine any information submitted to support their credentialing decision. To seek a formal review of the data, the supplier must do so in writing. After receiving the request, the Plan will respond in writing within 30 calendar days.
- The providers have the right to correct inaccurate information received during the credentialing and re-credentialing procedure. For information on the provider process to fix these mistakes, see Credentialing Verification CR-03.
Best Credentialing Services We Offer
As a top credentialing provider, we provide top-notch credentialing services as below:
- Assist your practice in compiling crucial background and demographic data.
- Support providers with profile upkeep and data updates and assist them with CAQH enrollment.
- Make sure to prepare the relevant papers before sending payers the applications.
- Organize all follow-up duties and actions, such as communicating with payer organizations and doing verification.
- Receive full access to our credentialing system and Electronic Health Records, so you can always see what we’re doing without having to wonder what’s happening.
- Designate a committed account manager that has experience in the credentialing procedure for your medical institution.
BellMedex Credentialing & Re-Credentialing
The team of professionals at BellMedex, a leading medical credentialing company, keeps up with changes in the market, trends in credentialing, and payer requirements, among other things, to maintain an understanding of the provider credentialing process. We manage the entire credentialing procedure as professionals. It entails that all tasks that would typically be performed by your personnel are now taken care of by our team.
You gain the following advantages by using our thorough credentialing services:
- Obtain credentials from all significant payers more quickly.
- Lower claim rejection rates and increased cash flow
- Increase patient referrals from the network
- Save paperwork with our document management system
- Receive assistance with filling out lengthy application forms
- Lower the cost of the credentialing process with our worldwide delivery teams
- Get frequent updates on the progress of your applications.
Before finishing the credentialing process, we monitor the process’s completion, complete all necessary paperwork, send requests to payers, and swiftly address any errors or requests for further information from payers. Gather the results. When it’s time for your practice to be recertified, we designate a team of professionals to oversee the deadline, start the procedure, and see it through.
Our staff assists the provider in completing the first application and works with payers to encourage quick approval and hasten provider beginnings. These include background checking, payer coordination, and source verification.
In this article, we have elaborated, “What is provider credentialing” to let you clear the concept and significance in the healthcare sector.