Time is money. This old adage is particularly applicable in today’s economy. The medical industry is no exception to the rule, and the time drain presented by onboarding and credentialing physicians may be one of the most costly processes facing the industry at present.
Why is Onboarding Such a Challenge?
As time-consuming as it is, proper onboarding and credentialing are non-negotiable for medical facilities. Legal and financial liability depends on it. The process requires physicians and other medical professionals to regularly submit documentation (e.g., education certifications, National Provider Identifier number, Board certificate) to their employer, who in turn will submit the information to every insurance provider they intend to receive reimbursement from.
Not only is this list of certifications and licenses to verify exhaustive in nature, but all of the information must be verified for every single physician/medical professional who provides services for patients. From start to finish, the process can take anywhere from four to six months.
"The average physician contracts with as many as 10 to 20 health plans, and completing a separate credentialing form for each one can be a drain on their time and resources," says Karen Bell, medical director, Anthem Blue Cross and Blue Shield (as told to BusinessWire).
The time-to-cost ratio doesn’t just stop at administrative hours, however. If a physician isn’t credentialed or re-credentialed efficiently, the slow-down will impact patient scheduling, billing, and coding.
The Solution: Flow
The onboarding and credentialing process won’t be going away anytime soon, and nor should it, as it plays a necessary role in ensuring providers are qualified and held to a standardized level of professionalism. It can, however, be improved upon with the help of technology. Flow’s onboarding and credentialing software save time, and thereby cost, by utilizing process automation and data personalization.
Flow’s software is built with the mindset of making the complicated nature of onboarding as simple as possible by automating and integrating processes, so facilities can reduce the cost and time associated with redundant paperwork.