Credentials & Contracts

Credentials &
Contracts

What is the Importance of Insurance Credentialing?

Establishing a clinic or other healthcare facility starts with contracting and credentialing. They also set the foundation for your interactions with patients and insurance companies. Enrolling in the preferred provider network of an insurance company requires this step, which is crucial.

You can obtain contracts that will benefit you from being in these networks with the assistance of GodSpeed Medical Billing credentialing services. Both patient care and satisfaction will rise as a result, and so will your income. Our goal is to enable your facility to serve a greater number of patients and raise patient satisfaction levels.

Why Choose GodSpeed Medical Billing for Credentialing Services?

Establishing a practice or healthcare facility starts with credentialing and contracting, which also establishes your relationship with insurance companies and patients. Many hospitals and healthcare systems receive credentialing services from GodSpeed Medical Billing.

In addition to obtaining and negotiating contracts with insurance payers, we will also assume responsibility for ensuring that the insurance carrier contracts for your facility or physicians are current. Allow our experience to help you build stronger connections with patients and insurance providers so you can serve more patients, provide them with better care, and receive the maximum reimbursement rates.

According to Forbes, the largest ranked insurance companies in the US by the sales are,

Blue Cross Blue Shield United Health Group
Anthem
Aetna
Cigna
Humana

Even though insurance companies seem more closed off, Right Medical Billing can easily work through their systems to get you the information you need. Today’s insurance providers offer a broad range of services that can assist you in receiving the compensation you require to expand. There are less limitations on pre-existing conditions, and they now cover behavioral and mental health.

This implies that meeting your patients’ needs is now simpler than it has ever been. It can be difficult to join the network of your choice because insurance companies are closing off their panels and erecting obstacles to entry. But this won’t be a problem with Correct Medical Billing’s assistance.

Dealing with In-Network Agreements

Effective contract negotiation is the first step toward building your facility to the caliber you desire. Our partnerships, which have lasted for more than 2 decades, have always benefited our clients because we negotiate aggressively. You incur financial loss when you negotiate contracts ineffectively. You should leave this to the professionals. The majority of insurance company network managers are acquainted with our EDI team.

GodSpeed Medical Billing will take advantage of specific situations, like a high patient volume in a particular area, to guarantee the highest compensation for each doctor. We enroll doctors in both public and private insurance networks and credential a number of individual clinicians and hospitals.

Building Long-Lasting Relationships Over 2 Decades

To optimize your reimbursements, it is essential to comprehend the nuances of these agreements. You can lessen the likelihood of denials and ensure a smooth revenue cycle by being aware of these contracts. It is also necessary in order to provide you with accurate and timely reimbursements. We take care of every little detail that comes with the contracting procedure.

These can include agreements for the delivery of healthcare services to patients, the definition and explanation of the provider’s reimbursements, and more. Additionally, we will handle the negotiations that lead to the most favorable rates.

Another challenging task in your revenue cycle management is managing contracts and staying current with different insurance companies. Making sure you are getting the best rates from your contracts is crucial. You can give your patients the care they require and improve patient care if you are properly compensated.

It impacts your financial development directly. Participating in these networks significantly expands your patient base. Because healthcare costs are so high, patients look for providers within their network. It’s a means of expanding your patient base throughout your service region.

However, you might have to reimburse for the patient’s reduced rates out of pocket, depending on the plan or network. As a result, it is crucial that you negotiate well when drafting your contracts because the more money you have to pay for the service, the less money you have to devote to patient care. Your top priority is patient care; ours is to make sure your revenue stream is performing at its peak.

GodSpeed Medical Billing Can Help in Credentialing Services

Credentialing may require several back-and-forth phone conversations and months of paperwork. It takes a great deal of time. Choose GodSpeed Medical Billing instead of a business that specializes in credentialing services because we are your one-stop shop for all financial needs. As a result, Right Medical Billing is regarded as one of the leading providers of medical billing credentialing services in the United States and Canada.