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Credentialing Services
Credentialing is a critical step for podiatry practices seeking to join payer networks. We handle all the details, ensuring you meet payer standards quickly and accurately.
- Provider Number and Information Verification: HRG verifies all essential data, including individual and group NPIs, tax IDs, licensure, registered addresses, and qualifications, ensuring all information is accurate before any submissions.
- Billing and Payment Address Validation: We keep your billing, group, and pay-to addresses updated with insurance companies to prevent any miscommunication or delays in payments.
- Peer Review and Background Checks: When needed, we arrange peer reviews and arrange background checks, ensuring your practice meets all payer credentialing standards.
- CAQH Profile Management: HRG manages your profile with the Council for Affordable Quality Healthcare (CAQH), ensuring your credentials are accurately shared across multiple payers, reducing your administrative workload.
- Real-Time Credentialing Monitoring: Our online platform provides regular updates on your credentialing application, allowing you to track the process and performance in real time.
- Compliance Assurance: We ensure your practice stays compliant with all regulatory requirements, avoiding any legal risks associated with outdated or incorrect credentials.
Contracting Services
HRG's contracting services help podiatry practices negotiate and secure favorable contracts with payers. We assist in everything from rate analysis to network participation, giving you a competitive edge.
- Contract Negotiation: HRG negotiates terms such as reimbursement rates, payment schedules, and termination clauses. We work to ensure that your practice receives fair and competitive compensation for services.
- Provider Enrollment: Once contracts are secured, HRG handles your enrollment in the payer’s network, ensuring you’re ready to serve a wider range of patients covered by insurance.
- Rate Analysis: We perform a thorough rate analysis to ensure that the rates offered by payers are competitive and profitable for your practice. We compare fee schedules and address any discrepancies to secure the best financial terms for you.
- Language Review: Our team carefully reviews contract language to ensure the terms are clear, fair, and aligned with your practice’s needs. We focus on details like payment timelines, interest on late payments, and other provisions that impact your revenue cycle.
- EDI and EFT Enrollment: HRG manages Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) enrollment, ensuring your practice receives payments directly to your bank account, reducing administrative time and speeding up reimbursements.
- Provider Network Participation: We assist in joining and managing your participation in payer networks, expanding your access to insured patients and increasing your potential revenue.
- Payer Mergers and Acquisitions Impact Management: When payers merge or are acquired, we track these changes to ensure your contracts stay favorable. HRG monitors new network rules, reimbursement changes, and additional credentialing requirements that may arise from these mergers.
Managed Care Contracting
Managed care contracting requires negotiating favorable terms with Managed Care Organizations (MCOs). HRG leverages its relationships with MCOs to help podiatry practices secure contracts that align with their financial and operational goals.
- Payer Landscape Familiarity: HRG helps you understand the dominant MCOs in your area, ensuring you choose the right payers for your practice.
- Value Proposition Development: We highlight your expertise and the unique services you provide, helping you stand out from competitors.
- Risk-Based Contracting: We explore opportunities for risk-based contracts, such as capitated or bundled payments, offering potential revenue growth.
Market Leverage Identification
HRG helps podiatry practices identify factors that provide negotiating leverage with payers. These include market share, specialized services, patient volume, and geographic location.
- Reputation Building: A strong reputation for quality care can give your practice more influence during contract negotiations.
- High Patient Volume: Large patient bases allow your practice to negotiate better terms, as payers rely on your service offerings.
- Specialized Services: Unique procedures and services that are in high demand strengthen your position in payer negotiations.
Insurance Contract Solicitation
HRG helps podiatry practices in actively looking for and negotiating new contracts with insurance companies. Our team handles everything from first outreach to contract finalization.
- Payer Identification: We research and help identify payers that match your practice’s patient demographic and geographic location.
- Value Proposition: HRG develops a strong pitch that highlights your practice’s strengths and benefits to payers.
- Negotiation of Terms: Once a payer expresses interest, we work to secure the most favorable terms for your practice, ensuring sustainable and profitable relationships.
Rate Analysis and Language Review
Our team specializes in reviewing contract rates and language to ensure the best possible outcomes for podiatry practices.
- Reimbursement Rate Analysis: We assess whether the rates offered cover your practice's costs and are competitive within your market.
- Language Review: We carefully examine contract language for clarity and fairness, ensuring terms like payment schedules, quality metrics, and termination clauses are beneficial to your practice.
Why Outsourcing Credentialing and Contracting Matters for Your Practice’s Success
Outsourcing credentialing and contracting tasks can significantly affect the efficiency and profitability of your podiatry practice. By partnering with a specialized service provider like HRG, you can avoid the headaches of administrative overload while focusing on patient care.
Save Valuable Time and Resources
Credentialing and contracting are time-consuming and involve a lot of paperwork. HRG takes over the entire process, from application submissions to communication with payers, saving your team precious hours that can be spent on patient care.
Prevent Costly Errors
Credentialing mistakes can lead to delayed payments, claim denials, and even legal issues. HRG ensures your practice remains compliant with all payer requirements, minimizing the risk of errors that can harm your practice’s revenue.
Gain Access to Better Contracts
With years of experience and established relationships with payers, HRG negotiates more favorable contract terms for your practice, including better reimbursement rates and efficient payment schedules.
Stay Compliant with Industry Changes
Payer regulations and requirements change often. HRG keeps your practice informed and compliant with the latest policies, ensuring that you don’t face unexpected penalties or contract disruptions.
Focus on Patient Care
By outsourcing credentialing and contracting to HRG, your practice can stay focused on what matters most—providing high-quality care to your patients.
Why Choose HRG for Your Podiatry Practice
Healthcare Revenue Group’s deep understanding of podiatry credentialing and contracting ensures your practice receives the best possible service. Our expertise saves you time, prevents costly mistakes, and improves your financial outcomes through better contracts and faster reimbursements.
- Experience in Podiatry: We specialize in podiatry practice medical billing, and are familiar with the nuances of credentialing and contracting for this specialty.
- Efficient Turnaround: HRG processes credentialing and contracting applications quickly, minimizing delays in getting you approved with payers.
- Personalized Support: Our team is responsive and dedicated to helping your practice succeed every step of the way.
Partner with Healthcare Revenue Group Today
Let HRG take the burden of credentialing and contracting off your shoulders. Focus on providing quality care while we handle the paperwork, negotiations, and compliance. Schedule a free consultation with Healthcare Revenue Group below to learn how we can streamline your credentialing and contracting process, saving you time and maximizing your revenue.
Outsourcing your podiatry practice’s credentialing and contracting to HRG ensures a smooth, compliant, and successful process, so you can focus on what matters—caring for your patients.