When dealing with the complex nature of medical credentialing, some providers continue to rely on checklists, makeshift programs, and spreadsheets without an expert present to verify their work. This often leads to errors in data and delays. Some healthcare providers have no dedicated professional to manage the credentialing process. This leaves their staff burdened with intended responsibilities that reduce productivity.

With the variety of processes required by these payers resulting in increased administrative costs, the healthcare industry needs to consider all the possible cost-reduction solutions for operational efficiency. This includes choosing a third-party provider to handle your medical credentialing process. Here’s how medical credentialing services can work to transform healthcare providers.

 

Reduced Operational and Administrative Costs through Medical Credentialing Outsourcing

According to a study published in the Harvard Journal of Medicine, Dr. David Cutler, Dr. Peter Basch, and Elizabeth Wikler revealed that streamlining a healthcare practice’s electronic transactions, the credentialing system, and setting reporting requirements standards and provider enrollment are some of the best options for any clinic looking to grow. This can help a practice and the physician save up to $29,000 per year. That’s how much a clinic can expect to save.

 

Reduced Errors Resulting in a Faster Medical Credentialing Process

With outsourced credentialing services, a clinic gets an expert medical staffer that possesses the necessary skills and knowledge about the recent updates taking place in the medical credentialing process. This helps cut down errors to a minimum. Consequently, the clinic develops a rapid enrollment process that enables it to bring in more revenue.

 

More Time to Focus on Building Your Practice

On average, a physician in the United States dedicates approximately 43 minutes every day of administrative tasks. This amounts to 261 hours saved in a year. With a proven medical credentialing services provider, a clinic and physician can brush away the burden of administrative tasks.