Medical Billing Blog: Section - Physician Credentialing
Archive of all Articles in the Physician Credentialing Section
This is the archive containing links to all articles written in the Physician Credentialing section of our blog.
Click any of the article links below to read the entire article or browse another section to the right to read articles on another subject.
Strategies for Negotiating Contracts with Insurance Companies
Negotiating contracts with insurance companies, or payers, is a critical task for healthcare providers. These contracts define the terms under which providers are reimbursed for their services, impacting their revenue, profitability, and overall operational efficiency. Effective negotiation strategies can make a significant difference in securing favorable terms that align with a provider’s financial goals and service quality standards. This article explores key strategies for negotiating contracts with insurance companies, providing healthcare providers with practical insights to enhance their negotiation outcomes. Payer contract negotiation is a complex process that requires a thorough understanding of both the healthcare provider’s needs and the payer’s expectations. Successful negotiations can lead to better reimbursement rates, …
Tips for Credentialing your Medical Services with Healthcare Payers
Payer credentialing is a critical process that ensures medical providers are qualified to offer services to patients covered by specific insurance plans. This comprehensive article will provide insights into best practices, common challenges, and effective strategies for successful healthcare payer credentialing. Payer credentialing is essential for healthcare providers to be reimbursed for services rendered to patients covered by insurance companies. The process involves verifying a provider’s qualifications, experience, and professional standing. Proper credentialing not only ensures compliance with regulatory standards but also enhances the credibility and trustworthiness of healthcare providers. Understanding Healthcare Payer Credentialing What is Payer Credentialing? Payer credentialing is the process by which healthcare providers, such as doctors, …
What is physician insurance credentialing?
Physician insurance credentialing, also known as provider credentialing or insurance credentialing, is the process by which healthcare providers, including physicians, nurse practitioners, and other healthcare professionals, become approved participants in insurance networks or panels. Being credentialed with insurance companies is essential for healthcare providers to receive reimbursement for services rendered to patients covered by those insurers. Here’s an overview of the process: Application Submission: Healthcare providers submit a credentialing application to insurance companies or third-party payers. This application typically includes detailed information about the provider’s education, training, work history, licensure, certifications, malpractice history, and more. Verification of Credentials: Insurance companies or credentialing organizations verify the information provided by the …
View provider enrollment as a critical part of your RCM
Provider enrollment with payers is crucial, as it ensures proper reimbursement for services rendered, according to Patrick Doyle, senior vice president of Newport Credentialing Solutions. Mr. Doyle shared the following tip with Becker’s Hospital Review: “To ensure every collectible dollar is received, provider enrollment must become an integral part of the revenue cycle process. Best practices should include regular payer audits to validate provider participation status, rigorous payer application follow up, monitoring of licenses and expiring documents, Council for Affordable Quality Healthcare re-attestations and re-enrollments. Furthermore, understand your at-risk revenue against your open enrollments. These are charges billed by providers when their enrollment status is in-process. In-process enrollments for payers …
Outsourcing a Dirty Word toYou?
The word “outsourcing” has become a dirty word for many physicians that have been burned by medical billing companies that either outsourced their claims to medical billing companies that use neither secure networks nor adhere to HIPAA regulation in order to maximize their profits; or the outsourcing company just turned out to not be reliable and it wound up costing the practice money to utilize their services. Don’t let a bad experience keep you from partnering with a legitimate medical billing company that can not only help you get your reimbursements faster but also realize great profits by maximizing every single medical billing claim that is filed to make sure …
October Updates Are In Effect!
If you haven’t already, make sure that your staff is using the updated CPT codes that were released in October 2008. Not doing so can lead to kick backs that will require more staff hours to research, redo and resubmit and if this happens on a number of claims it can seriously affect your reimbursements and in turn – slow your revenue flow to a mere trickle. One way to avoid this dilemma is to outsource your medical billing and yes, there are some horror stories out there about outsource companies that threw away patient billing, had lax attitudes towards billing submissions and wound up costing the physician a lot …
Correctly Reporting Wound Length
When a patient reports to the ED and requires laceration repair, the medical billing claim needs to address the length of the wound in order to be a properly filed claim. If the wound length is either not addressed or addressed incorrectly, the claim may be either denied, rejected or only partially paid. Additional factors can include whether or not there was a separate evaluation and how the service was managed during the encounter. Make sure all of these factors are documented in your medical billing claim. Laceration repairs are very common in the ED, in fact a nationwide survey showed that every one in fifteen patients presenting in the …
Taking the Headache Out of Credentialing
Are you swamped? So overwhelmed with patients, billing, invoices, emergencies and other day to day practice worries that you don’t even have the time to get yourself credentialed with all the carriers possible. No one has to tell you that the more insurances you accept, the more patients you can see and the more revenue you can generate for your practice. Credentialing is the key. Did you know your medical billing partner can take some of the heat off you and not only compile and submit your medical billing, they can also get your practice credentialed with any carrier you choose. If you have a busy practice, you may be …
The Benefits of Getting Credentialed
One thing you learn quickly when you establish your own practice is that there are many types of insurance plans as there are patients and in order to get paid for the services that your render, you must be approved or rather “credentialed” to do business with your patient through that particular insurance company. The process of getting credentialed with each insurance company is a little different as to what each carrier will require from you but each will require a lot of paperwork and following up. That’s where a third party partner can help you.If you want to get credentialed with as many different carriers as possible but you …
