As more and more practices are employing providers, credentialing and provider enrollment have become THE priority in revenue cycle management! Enrolling providers correctly and quickly is the most important step in getting providers in-network with insurance plans. The quicker provider enrollment is completed; the quicker practices can be reimbursed for their provider’s services. In fact, the enrollment process should be done before providers’ start seeing patients, which will reduce write-offs and loss in revenue.
There are two key ways to speed up the credentialing and provider enrollment process:
- Outsource your credentialing and provider enrollment to a professional credentialing agency; and
- Use technology.
Up until recently, credentialing and provider enrollment has been mainly a paper process or been managed in an Excel spreadsheet but with the development of new technology the process has become more automated.
Automation is “the use of software technology to increase the efficiency of a workflow by improving the coordination of the activities.”
Credentialing software helps you eliminate any probability of data duplication and automation (through technology) and can result in a drastic cultural shift which will ultimately benefit the enrollment specialists, patients and the providers. When you compare the workflow of traditional credentialing methods – paper and pen – to that of credentialing software, there is a major difference in time and efficiency. If you’re using pen and paper, or an Excel spreadsheet, to credential, you should be looking into a software program that will make your life a lot easier and more efficient!
Need technology to manage your credentialing, licensing, contract and fee schedule negotiations and payor enrollment? Test drive a credentialing system to better understand the benefits of getting rid of the pen and paper and the Excel spreadsheet.
STATCred is a proprietary system designed for medical practices, medical clinics, billing companies, Locums agencies, Telehealth agencies, and consulting organizations. If you are looking for a way to make your credentialing and provider enrollment processes more efficient, we can demo STATCred for you. If you contract with STATCred today, we’ll offer you a FREE 30-day trial. That’s how confident we are in our system!
Cynthia Young is the CEO of STAT MedCare Solutions. STAT is a U.S.-based, national provider of credentialing, payor enrollment, rate negotiation, and other credentialing related services.