Automate or disappear over the horizon; the changing equation of the healthcare world!
It is a trying time for medical practices. There is mad scramble to cut down on costs, deliver more accountable care and integrate key components across the healthcare continuum. And the increasing pressure to comply with federal norms is only making it tougher for medical practices. Independent medical practices, in particular are finding it hard to cope with shifting healthcare landscape.
Employing additional staff, to take care of the increasingly complex workflow, revenue management, and operational demands, is a herculean task. But despite all that pressure small practices are still thriving and automation has got a huge role to play in it.
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The healthcare industry has been somewhat reluctant and slow to embrace technology. In an industry that can benefit a lot from automation, this aversion to technology is certainly not healthy. Most medical practices fear the high costs of adopting technology and losing control over their data. And it is a fear that more often than not proves to be unfounded.
Healthcare applications and softwares have evolved over the years, and have become more, user- friendly, intuitive, and cost effective. If there is one process that really, really needs automation and standardization it is credentialing. It can save independent medical practices thousands of dollars in the long run.
It is essential to automate the credentialing process!
Automating the credentialing process can save $29,000 annually for physicians and about 3 hours they spend regularly to fill in credentialing information. It can be the best solution to get rid of the redundancies, idiosyncrasies and insane costs involved in the credentialing process.
All those thousands of dollars saved can translate into better patient care and infrastructure.
5 obvious reasons to automate the credentialing process…
#1. Physicians spend a huge amount of time and money interacting with insurers. Automating the credentialing process will trim the fat and streamline the entire process.
#2. The credentialing process is convoluted and time-consuming. Every insurer and health plan follows a different credentialing procedure. A smart application can save the headache of deciphering complex regulations.
#3. According to MGMA, physicians spend $7618 annually to submit credentialing applications to insurers. The average medical practice submits about 17 applications per physician every year. A credentialing software can drastically cut down on operational costs
#4. Re-credentialing is always just around the corner. A, credentialing software can send automated reminders, perform batch processing, create audit trails and send automatic emails and alerts to insurers.
#5. Maintaining physician details and an extensive database is tough especially for practices short of human or monetary resources. A, credentialing software is a highly viable and inexpensive solution.