Being credentialed and continuing to update your credential is a very important function of a practice to avoid any interruption.
Healthcare credentialing applies with verifying and authenticate the education and the certification of a medical practitioner. Why does a medical provider need to get credentialed? Medical providers need to worry about credentialing because
. 20/20 has a credentialing department that could help you and alleviate the burden on you and your practice. The way we do it is by verifying your licenses, analyzing your medical schools and validating the completion of a medical education, verify training (internships, residency, fellowships, etc.) The length of the credentialing process depends on the number of items that need to be inspected, but the procedure is regularly long.
It is dangerous to neglect your credentialing status as some physicians overlook it, they depend on existing staff to take care of it and the existing staff get distracted with the day-day operations. The financial damage that can happen overlooking such a thing can be extremely costly to a practice. I understand that being a physician is a wonderful and noble profession, but at the end of the day it’s important to get paid for your hard work. The consequences of neglecting your credentialing expiration means all of the patients that were seen during that period of time for such an insurance company will not be paid. An alarm usually goes off around 90 days, such a period can put tens of thousands of dollars of financial damage and setback the physician. You need another 90 days to fix this issue, which already is half a year of wasted potential dollars to the physician. Not many businesses can survive not getting paid from their customers for such a long period of time. Your practice is a business, run it like a business, partner with 2020 and let’s help you run your practice as a business.