Insurance Credentialing for free? What Physicians Need to Know
When It comes to credentialing, every contract is critical, each contract contributes to the net revenue of a practice and while getting on a payer’s panel means catering to a larger patient base, it also means a strenuous amount of paperwork and months of follow-up.
Its no surprise physicians stress out easily over credentialing.
Fact is, the medical practice sphere is populated enough, medical practices have to run at complete efficiency and credentialing is just one of the key steps a physician has to take to optimize the performance of their practice.
What are the options?
Insurance credentialing services are in abundance, most charging a fee to handle the credentialing process. A quick search can reveal hundreds of results and the experienced ones know how to get the work done.
Physicians can always take the DIY route as well, but the margin for error is high and the wait time so lengthy, thus, outsourcing the credentialing process makes the most sense.
This is especially true if you are planning to start a new practice.
A new practice owner juggles his time between patients and administrative work, throw in medical billing and credentialing work and you have a bottleneck.
As already mentioned, the copious amount of paperwork leads to a high percentage of errors in forms, furthermore, a regular follow up is necessary, at times on weekly basis to ensure your application is moved around as it should be.
We wish we could tell you the ordeal ends at that but there is always a chance the payer denies your request.
More common than ever now, instances of insurance payers closing their panels to physicians have increased. The growing number of physicians means insurance payers are highly selective in their credentialing process,
In case of a denial, An appropriate appeal letter drafted by an experienced team has a 60-70% chance of getting approved. If an insurance payer has closed panels for you, a denial letter is a next step.
Is there an easier way?
As far as the wait time and the documentation is concerned, unfortunately not, as far as the best value for your money goes, definitely Yes!
Bikham Healthcare provides Provider credentialing services to practices of all shapes and sizes and has been doing it for the last 13 years.
It comes bundled with a slew of other services we excel at.
- Complete Revenue cycle management
- Charge Entry Process in Medical Billing
- Denial management in medical billing
- Insurance eligibility verification
- Patient registration service
- AR follow up Services
What distinguishes us?
Credentialing with us is free and that’s not where our services stop.
Bikham takes pride in being a one stop solution for everything medical. We have been a preferred choice when it comes to Outsourcing medical billing.