Finding the right physician for your practice is already a time-consuming task. It often leaves most practices exhausted with the entire process by the time they get to physician credentialing. Mistakes made during this step in the RCM process can create scheduling problems, creating a domino effect that touches every step in your practice’s revenue flow.
The most successful practices recognize that physician credentialing is a crucial step in a healthy revenue cycle management flow. These practices work hard to ensure that there are best practices put in place to guarantee a fast, efficient outcome.
While most firms will tell you that 90 days is plenty of time to get the process started and complete, it’s no longer enough time. We recommend playing it safe—start your process 150 days in advance to give yourself plenty of time in case of process hiccups or unforeseen setbacks.
It’s essential to train your staff to collect the necessary information. Rather than chasing breadcrumbs of information over time, give your team a checklist with the required information so they can gather it upfront.
It’s equally important to ensure that your staff quickly updates all important platforms and channels within your process to rectify incorrect or outdated information.
During your experience review of an applicant, you might find information on settlements, closed suits, or malpractice claims. While this information doesn’t always indicate a red flag, it’s good practice to apply an extra layer of scrutiny to ensure maximum efficiency.
We recommend requesting three peer references from same-specialty physicians, who are not relatives nor current members of the same practice. If these are the standards you wish to set forth for peer references, be sure to deliver your specifications for this request clearly to applicants.
With so much to keep track of during the physician credentialing process, it’s easy to lose track of application information or important deadlines. The best way to ensure that your physician credentialing process is running smoothly is to keep all of your important information and dates organized. Along with Excel spreadsheets, there are tons of organization tools on the market to choose from.
While a physician credentialing process can be difficult to implement and maintain, it’s crucial that you get it right. This will ensure you enjoy a smooth RCM flow that maximizes overall revenue. That’s why most modern healthcare organizations outsource their RCM tasks like physician credentialing to Plutus Health, your one-stop solution for end-to-end revenue cycle management.
If you’d like to strengthen your RCM process and improve cash flow, choose the physician credentialing experts at Plutus Health. Whether you need help with physician credentialing or your entire RCM process, our healthcare billing professionals are ready to help.
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