Physician Credentialing Services for Better Revenue Generation
Provider Enrollment is a process of getting registered as a licensed supplier of health care services with a network of different health insurances. It consists of the following steps:
• Plan Enrollment
• Application for plans credentialing
• Submitting duplicate licenses
• Insurance and related documents
• Contract Agreements
Getting credentialed means that the provider is well-qualified, fulfills the requirements of insurance networks and is capable of delivering quality healthcare service. It is a key determinant is getting accepted by health insurance payers.
Physicians Credentialing services is also a necessary ingredient in running a medical practice without any legal obligation. It plays an important part in acquiring new clients to reinforce the revenue cycle and make your physician practice run smoothly.
Physician Credentialing Services is important since the healthcare sector is growing at a fast pace. A large number of healthcare experts are recruited every day which makes credentialing a complicated and lengthy process. Expert credentialing demands experience and expert management of credentialing applications. With numerous responsibilities, it becomes quite difficult for providers to manage their daily tasks. This is where outsourcing physician credentialing services can help. By outsourcing Physician Credentialing Services, providers are able to yield desirable outcomes and focus on the health care delivery process.
Outsourced credentialing also provides the option of contract negotiation to the providers.
This expert contract negotiation contains-
- Expert Analysis of existing contracts.
- Evaluation of payer contracts.
- Strategy for contracting on the basis of business goals.
- Development of suitable plans for renegotiation.
- Regular progress updates.
- Payer Consultation with regards to fee schedule and measures for pay-for-performance.
Adding to the contract negotiation services, some providers of physician credentialing services also offer contract evaluation to ensure that you are well aware of the way you are going to be paid.
Outsourcing physician credentialing services brings about solutions to reimbursement issues and contributes to the improved revenue cycle.
Bikham Healthcare is an expert provider of physician credentialing services to healthcare practices of all sizes. With over 14+ years of experience and expertise in offering medical billing services, we are dedicated to seeing our clients grow. Visit us online for more information.