Lost billings: The financial impact of provider credentialing process in healthcare
New survey finds one in four healthcare organizations experience as much as $1 million (or more) annually in lost billings due to credentialing Healthcare organizations report completing provider credentialing faster than in prior years and expressed confidence in their processes. Even so, more than one-third of respondents experience lost billings as a result of credentialing challenges. That’s according to a new survey we commissioned of human resources, operations and finance professionals working for U.S. healthcare organizations. More than four in 10 (43%) of respondents said their organization experiences $50,000 or more in lost billings every month as a result of credentialing issues. Further, one in four (25%), experience lost billings to the tune of $100,000 a month or more. When considering the impact on a yearly basis, those losses in monthly billing quickly add up to seven figures. The contrast between the confidence expressed in the process and the financial […]