Maintaining robust credentialing records for every healthcare professional on your payroll includes verifying the information they supply you, as well as making sure they process new applications and update their licenses and certification in a timely fashion.
If you drop the ball on this responsibility, you risk staggering financial penalties, some as high as $10,000 per day. Further, regulators may suspend any pending income to you from Medicare or Medicaid – where you probably already feel the effects of sometimes painstakingly slow payment cycles.
Credentialing is a tremendous job.
Required credentialing timelines can be stringent. There are countless details to juggle to add to this challenge, made even more complicated if your company insures providers across multiple states.
Hospitals, medical offices, and other healthcare organizations have historically been hesitant to embrace automated credentialing, but the benefits have become increasingly apparent. They include:
Creating more efficient procedures:
Credentialing is an extremely time-consuming process that can take months to complete. Workflow software can offer an efficient renewal and updating process based on credentialing expiration dates. It then notifies your team that the process is underway, and you can use simple e-forms to collect the necessary data. You can also get automated alerts if any files are missing documentation. Among the benefits: you will always be ready for an unexpected audit, so you don’t have to scramble at the last minute to find what you need.
According to one industry report, minimizing human error:
One in every 10 deaths in the U.S. has been attributed to medical error. Secondary to this tragic statistic, associated annual costs are estimated at a staggering $1 trillion. Research by the Journal of the Medical Informatics Association (JAMIA) details how real-time automated systems have shown significant improvements in identifying critical medical missteps.
Automated credentialing can save physicians $29,000 annually, as well as the three hours on average they typically spend completing a related document. Other professionals can reap similar benefits.
Now more than ever, healthcare organizations are expected to enhance patient safety and restore consumer confidence. At the same time, they need to protect their organizations from financial harm and preserve their care standards. Automated credentialing can be the best means to ensure they meet these critical goals.
It all begins with proper background screening and drug testing of your job applicants. Chane Solutions is regarded nationwide as a trusted source for these needs. Our dedication to education, compliance and unparalleled customer service places us above all others as we customize solutions for your healthcare organization. Read our related posts or contact us today to learn more.