ebix offers initial credentialing services for start-up practices at no charge.
Start your insurance contracting/credentialing now!
Launching a new practice or expanding to a new state? Initial Credentialing is Free.
Our expert staff reaches out to the carriers of your choice to obtain network status.
Yes, the dominating trend over the last 20+ years has been hospital systems employing doctors and buying practices. However many sources including MGMA and Modern Healthcare have reported that hospital systems lose approximately $150,000 to $200,000 yearly per physician. Recent changes to outpatient hospital payments, such as the elimination of facility reimbursement, have added to hospital’s problems. To stem these losses, productivity demands and salary reductions are placed on providers, increasing dissatisfaction, burnout and defections.
While new medical school graduates have little choice but employment, physicians further along in their careers are eyeing independent practice. But there’s precious little if any instruction given in school about the complexities of medical entrepreneurship. One of those seldom understood and potentially devastating pitfalls is insurance network contracting, commonly referred to as “credentialing”.
Establishment of new federal tax ID (TIN) and group national provider identifier (NPI) are first steps in starting a practice. Assuming the provider has been treating Medicare and Medicaid patients, adding the new TIN and NPI to the “straight” government programs is fairly simple. Address, phone number and other basic info will be required as well. However, other carriers require new contracts for the new practice.
Most patients choose a commercial Medicaid intermediary or a Medicare Advantage plan to increase accessibility and lower cost. Therein lies the rub. As an example; if you see a Medicaid eligible patient that’s designated United Healthcare as their carrier and you are not in the UHC network, even if you are an enrolled Medicaid provider, you will NOT be paid. You can’t bill the patient or Medicaid directly.
Let ebix, Inc do the credentialing for you. Read the attached information regarding Centralized Physician Credentialing here.
About ebix, Inc.
Established in 1977 as a billing company, ebix, Inc. has grown to a multifaceted medical management firm. Providing administrative and operational support to healthcare providers throughout the Central United States, our portfolio of services includes medical billing, accounts receivable management/liquidation, compliance audits by credentialed auditors to ensure regulatory compliance, physician/ancillary education, extended business office functions, ICD-10/CPT-4 coding, and practice management support.
Please Contact Craig Evans to learn more