As hospitals and physician practices employ more medical professionals, the proper credentialing of those professionals becomes increasingly important to the entire revenue cycle process.
A tremendous amount of reimbursement, legitimately due to hospitals and medical practices, is lost due to incomplete, incorrect, or delayed completion of required credentialing. And that is not entirely surprising in that credentialing is voluminous, varies by payer, with payer requirements changing over time.
It is therefore very difficult to keep up with credentialing requirements, and hospital staff is understandably focused on new provider employment and contracting, and is often not focused on proper credentialing. But as proper credentialing is a threshold requirement in order to establish claims reimbursement for a given payer, credentialing is a critical part of the overall revenue cycle management process.
Precision has a dedicated credentialing department, with significant experience in credentialing, focused on making sure that this all-important but often overlooked requirement is properly and timely managed. Hospitals and physician practices that engage Precision to provide credentialing support for their providers can be assured that all requisite credentialing work is effectively and professionally completed as it should be, fully supporting underlying revenue cycle processes.
"Precision Practice Management provides comprehensive revenue cycle management support for 42 hospital departments and medical practices at St. Luke’s, including our Emergency and Urgent Care facilities. And they do so on two software platforms, Vitera (Medical Manager) and eClinical Works (ECW). Precision’s services have been tailored to complement the specific needs of each of our practices and departments, interfacing with St. Luke’s staff in a highly effective manner. Precision also satisfies the hospital’s unique financial reporting requirements. No matter what the challenge, Precision has always come through for us."
