Top 7 Reasons to Outsource Medicaid Credentialing for Your Practice

Handling credentialing in-house is a tough task for therapy practices. Not only does it demand extensive time, but it is also prone to errors that can affect their revenue.

Is there any way therapy practices can bypass this hopeless route? Of course yes. It is by outsourcing medical credentialing for your practice

It reduces the administrative burden and offers other innumerable benefits that can save a lot of time and money for therapy practices.

In this blog, let us explore the top 7 reasons to outsource medical credentialing, understand the benefits of credentialing outsourcing, and learn how they can help therapy practices stay financially afloat.

Key Takeaways

• Discover the strategies to reduce administrative burden and dedicate ample time to clients. 
• Learn how the right credentialing partners can help you get credentialing easily.
• Understand how credentialing can help boost client trust and improve the reputation of your therapy practice.

Top 7 reasons to outsource medical credentialing

Therapists are often burnt out when trying to get credentialed on their own. This shifts the focus away from client care, thus eventually leading to bad reviews and poor reputation. By outsourcing medical credentialing, practices can experience a streamlined process.

Here are the Top 7 reasons why outsourcing medical credentialing is the best choice.

Saves Time for Your Practice

Credentialing often has a lot of steps like collecting documents, submitting them, and following it up with Medicaid officers. Not only this, but the requirements of each insurance provider will be unique which can further complicate the process. These tasks drain a lot of valuable time for therapists. Outsourcing credentialing transfers these responsibilities to experts who can do it right. This gives therapists and their administrative workers a lot of breathing time to focus on client care. 

Reduces Administrative Burden

Credentialing takes up the time of administrative resources of a therapy practice. Maintaining records such as therapist licenses, certifications and experience, submitting them on time to Medicaid offices and responding to inquiries of Medicaid are some of its roles. 

Most of the small and mid-sized therapy practices will operate on less staff to support their crucial operations. Asking them to take up credentialing work can overwhelm the staff and they will be left with no time to take care of their clients. 

Outsourcing medical credentialing will help staff focus on key aspects such as scheduling client appointments, client intake, billing, and so on. Thus outsourcing reduces administrative burden and allows therapy practices to scale without the need to hire additional staff for credentialing works.

Expertise in Complex Requirements

Credentialing is a multi-step process. Apart from filling out forms and submitting them on time, several state-specific rules and regulatory standards have to be met to get credentialed. Therapists and their administrative team cannot do this alone as the requirements keep growing. 

Outsourcing credentialing will help to navigate these issues. These firms will have credentialing experts who can understand its ins and outs with little trouble. They can help therapy practices to meet necessary credentialing standards, significantly avoiding delays or rejections.

Minimizes Credentialing Errors and Rejections

The applications submitted for credentialing should be error-free. These applications will go through a rigorous vetting process. Even a slight mistake can lead to delays or rejections. This will ultimately affect the revenue flow for therapy practices.

Companies offering medical credentialing services for therapists can easily navigate this issue. They have stringent quality checks and standard application submission protocols. These help therapy practices to get credentialed easily without errors and rejections. This helps therapy practices to get faster reimbursements, thus improving their bottom line.

Faster Revenue Cycle and Reimbursements

Revenue is a critical component to run therapy practices smoothly. Credentialing directly affects revenue as it helps therapists get reimbursed for the services they have offered to clients. 

Therapy practices that struggle to get credentialed suffer a lot of financial strain. Cash flow will be affected and they will find it difficult to pay for their staff, manage rent for office spaces, and struggle to scale up.

The benefit of credentialing outsourcing is that it helps practices maintain a consistent revenue stream. Getting credentialed will help therapy services to bill for the clients as and when the sessions are over. This will help them get payments from insurance providers with no delay. 

This helps practices attain financial stability and maintain a healthy cash flow.

Keeps Up with Industry Changes

The healthcare insurance scam is growing in the US. Recently, 193 people were criminally charged with $2.75 billion in healthcare fraud. 

To prevent such scams and to maintain its sanity, the healthcare industry is constantly strengthening. Updates to insurance policies, state-specific regulations, and credentialing regulatory guidelines are made regularly. Staying relevant regarding these updates is impossible for therapists. Not their admin staff can do so, as they have other important work to be done.

Here is where credentialing comes in handy. They proactively monitor industry changes and other regulations from time to time. Hence they stay updated regarding the changes and can process credentialing with updated compliance requirements. This prevents delays of credentialing applications because of unforeseen regulatory changes.

Cost-Effective for Small to Mid-Sized Practices

Many small and mid-sized therapy practices run on a shoestring budget. Financial feasibility, particularly in the early stages, matters a lot to these practices. Hiring and training staff to handle credentialing will increase their overheads, thus affecting financial feasibility. 

Therefore it is best for these practices to reap the benefits of credentialing outsourcing. Outsourcing helps these firms by credentialing at a lower cost when compared to maintaining an in-house credentialing team. This lets these firms operate in a cost-efficient manner and reroute the funds for others such as marketing or outreach. 

Looking to outsource credentialing to the best ones in the business? Try Credngo, an intuitive and simplified credentialing software. Track applications, store documents, follow up systematically, and remove the pain of the credentialing process.

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Final Words

Outsourcing credentialing to the right partners can significantly save a lot of time for therapy practices. By partnering with Credngo, which offers superior medical credentialing services for therapists, therapy practices can ensure compliance with Medicaid requirements and maintain a healthy financial stream. 

Streamline credentialing now and reinforce trust and professionalism for your clients. 

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