How much does Medical Credentialing Cost

Medical credentialing is a vital process carried out by various hospitals to hire the best physicians. Without credentialing, no hospital would be able to provide medical care to its patients. This process ensures that every candidate’s eligibility is established for the post of a physician in a hospital. Medical credentialing applies to all the specialties falling under the medical domain. The hospital performs credentialing to hire a specialist like an anesthesiologist, cardiologist, dermatologist, general physician, and an oncologist, etc. The purpose is to ensure that hospitals verify their doctors’ medical credentials reflecting their medical knowledge, skills, and expertise. The process helps eliminate candidates exhibiting a lack of expertise in the medical field. Focusing on the aim of hiring the best doctors, hospitals prefer to dedicate a team of experts to carry out medical provider credentialing services. The cost of medical credentialing depends on the method of carrying out the procedure.

The traditional way to perform credentialing is to hire an in-house team. In the case of hiring an in-house team, hospitals are likely to spend money beyond an estimated figure. It’s because hospitals are required to spend huge capital from hiring people with expertise in medical credentialing to pay them from their services. Moreover, a minor mistake of overlooking the slightest disparity in a candidate’s career history may land the hospital in trouble. Hiring an unprofessional may affect the hospital’s reputation as well as the finances. In other words, the final cost of medical credentialing will be comparatively higher and may also affect the revenue cycle.

So, it is advisable to outsource medical credentialing services from a medical billing company. Outsourcing credentialing services can reduce the cost of medical credentialing. The billing company assigns the task of medical credentialing to a team of expertise. This means hospitals don’t have to spend time and resources in finding credentials experts. All the hospital needs to do is to choose a credentialing plan and pay the billing company for the credentialing service. The average cost for medical credentialing is $200. However, the medical credentialing plans and charges vary from provider to provider. The hospital may enquire about any medical billing company service provider for its medical credentialing plans and charges. This ensures hospitals get to choose the plan as per their requirement and save money by paying a reasonable amount for the credentialing services.