Credentialing sucks. If you know, you know. The endless data collection and organization for providers is just the beginning. With countless payers and hospitals involved, it’s inevitable that the process grinds to a halt somewhere, causing frustrating delays.
It’s an absurd yet necessary ordeal. There are 52 conventional credentialing steps to review before a healthcare provider can see patients and bill for their services. And just when you think you’re done, it’s almost time to start all over again in a couple of years.
Since this maddening process is essential for safe, quality outcomes, what we need is a major overhaul: more efficiency, more consolidation, and way more timeliness.
To grasp the financial hit from inefficient credentialing, healthcare providers and groups can turn to our credentialing calculator. This nifty tool quantifies just how much potential net income gets lost in the black hole of credentialing delays and inefficiencies.
By plugging in data from current operations, providers can get a personalized estimate of the income they could reclaim by outsourcing to Fifth Avenue Healthcare Service’s credentialing verification organization (5ACVO). The calculator factors in the number of providers, average credentialing delays, and potential patient volume, offering a clear financial snapshot of the gains from a streamlined credentialing process.
This insight is crucial for decision-makers weighing the ROI of outsourcing their credentialing operations.
