Factors to Consider in Determining the Cost of Physician Credentialing

 

Physician credentialing is a process that aims in the maintenance of the standards of quality in the medical fraternity for the common good of the patient’s in the community at large. It is market-driven in its nature and that it involves the primary sources that are involved in the verification of the healthcare regulatory standards. In this article, we look at some of the factors in determining the cost of physician credentialing.

 

The basic truth is that credentialing would not be the same from one company to another when it comes to the cost. Even though it adheres to the same basic guidelines of pricing, there are various factors that would determine what exactly it would cost the organization. The price that would be involved when it comes to getting the right physician credentialing have to do with various packages that would have to pick that involve two categories of facilities and providers. This, therefore, means that you would have both direct and external costs that are involved in the physician credentialing process from medical credentialing company.

 

Direct credentialing costs are involved in the payments of dedicated personnel or other personnel who are primarily dedicated to the tasks in the organization particularly the medical billing department within a practice. Outsourcing is, however, possible for such internal costs to a third-party that would work in partnership with the organization but this still requires provider interaction in some ways. The time that is spent in the application reviews, tracking down documents, populating applications, tracking down data, signing paperwork and responding follow-up requests from credentialing bodies are directly related to the costs that would be involved.

Because of the time, focus and expertise that is required to do physician credentialing in the proper way, outsourcing is the most credible method for the process. Even though it is possible to do it in-house, it would require that the credentialing department gets a lot of respect and that you have to limit exactly the responsibilities that you give to them as they really strike their best to situate that you’re payers are followed up and enrolled. For you to limit such mistakes that would happen during this process, it is important that you put minimum pressure upon the responsibilities that they have to do and that they can have ample time to be able to do the follow-ups that are needed.

 

If however, you are an established practice and that you’re thinking of outsourcing, have to consider whether it will actually be cheap for your credentialing costs stop having to know how much the credentialing cost would be to your company should be able to determine whether you can keep it in-house or outsourcing medical billing company.