Meticulous credentialing – the process of acquiring, evaluating, and verifying a physician’s professional documentation – is a necessity for any healthcare facility, including hospitals and ambulatory surgery centers (ASCs). In addition, insurance carriers, Medicare and Medicaid require medical providers to show proper credentialing before they can be reimbursed for their services. Any errors in credentialing can risk delayed payments or revenue loss.
The main challenge for ASCs in maintaining credentialing is that it is a demanding and time-consuming process, often taking weeks or months to complete. And if processes established by CMS, Medicaid and other institutions aren’t meticulously followed, providers are at risk for further delays. Necessary verifications may vary depending on location, insurance carrier, or medical facility, and different physicians will be on different credentialing schedules.
Providers must be credentialed before seeing patients, but keeping up with a long list of training, education, employment history, licensure, and compliance records is overwhelming for a busy administrative staff. It is often a smart business decision for ASCs to outsource credentialing to a partner that specializes in this process. Here are three key benefits of outsourcing physician credentialing:
Cost Savings
Proper credentialing requires specialized knowledge and great attention to detail. If you assign a full-time employee to this project, it will take up a significant portion of their time and limit their capacity to manage other tasks. Compare the cost of hiring a full-time employee (including factors like salary, benefits, professional development, and office space requirements) to outsourcing credentialing to an outside provider. And consider the risks and expenses your ASC could incur if your center encounters any unplanned delays.
Better Use of Staff Time
When your in-house employees no longer have to shoulder the burden of credentialing, they are free to use their time in more effective ways. Your staff has the opportunity to focus on the tasks they do best, which results in happier, more productive employees who deliver a better experience for patients.
Access to Expert Knowledge
Outsourcing physician credentialing gives your ASC access to expert knowledge and up-to-date resources. A company that specializes in credentialing stays current on industry, municipal, state, and CMS/federal guidelines, and develops streamlined processes to keep your records and deadlines organized and readily available.
Bring order and structure to your credentialing – learn how MedHQ can help.