Healthcare Update- HHS Delays Quarterly Reporting for Provider Relief FundJuly 28, 2020
Healthcare Update- Telehealth & The Virtual Care BoomJuly 29, 2020
2020 has been a year for the record books and we have only just recently reached the halfway point. As the world continues to grapple with the CoVID-19 pandemic and our healthcare system works to navigate these uncharted waters with the monumental challenge of keeping our staff protected while maintaining efficient workflows, healthcare leaders are finding creative, out-of-the-box strategies to free up previously unavailable monetary and staffing resources to meet the crisis’ ever-changing demands. Whether you are finding yourself short on staff availability as a result of CoVID related call-outs and quarantines, or needing to reallocate funds to address the pandemic and staffing shortages, one demand that cannot be ignored is credentialing and enrollment.
Credentialing has always been a pain point for many practice and health system leaders, who find the process to be resource intensive and time consuming. The consequence of an inefficient or inadequately resourced credentialing process, however, is a high amount of claim holds and skyrocketing accounts receivable. Based on a 2018 national survey conducted by Physicians Foundation, Physicians see an average of 20 patients per day. This means if a practice or health system has a delay in the credentialing or enrollment process of just two weeks for one provider, there could be over 200 claims worth upwards of $40,000 or more being held in accounts receivable.
Whether onboarding a new provider or enrolling an existing one into a new payer contract, the credentialing process is both critical and challenging in the best of circumstances, and in the current CoVID climate, the stakes have never been higher. If you find your credentialing and enrollment staffing resources stretched thin during this time, the experienced credentialing team at WebsterRogers is here to help. We can be up and running as an extension of your team to supplement whatever gaps have been identified to ensure that your providers’ credentialing and enrollment is maintained timely.