Credentialing and Contracting
Maximize revenue with Covenant's contracting and credentialing services.
Credentialing and contracting are two critical components of healthcare revenue cycle management. Our radical experts will do an Essential & Mandatory setup with all your insurances to bring meaning value to your practice.
Streamline revenue cycle with Covenant's contracting and credentialing expertise
Credentialing
Credentialing in medical coding is the process of obtaining official recognition for expertise
in assigning
Contracting
Contracting in medical coding refers to the process of negotiating agreements between healthcare providers and insurance companies.
Certification and Licensing
Certification and licensing in medical billing ensure professionals meet standards and demonstrate competence.
Credentialing
Credentialing involves verifying the qualifications and credentials of healthcare providers, such as physicians, nurses, and other medical professionals, to ensure that they are qualified to provide care to patients. Credentialing is typically done by a third-party organization, such as the National Committee for Quality Assurance (NCQA) or the Joint Commission, which verifies providers’ education, training, licenses, and other credentials.
Credentialing is important for your practice because it helps ensure that your practice is eligible to participate in insurance networks and receive reimbursement for appropriate services. Without proper credentialing, healthcare providers may not be able to bill insurance companies for their services, which can result in lost revenue and lower patient satisfaction.
Contracting
Contracting, on the other hand, involves negotiating and managing contracts between healthcare providers and insurance companies. Healthcare providers must negotiate reimbursement rates and other terms of their contracts with insurance companies to ensure that they are fairly compensated for their services.
Contracting is important because it helps healthcare providers optimize their revenue by negotiating favorable reimbursement rates and other contract terms. By negotiating contracts with multiple insurance companies, healthcare providers can diversify their revenue streams and reduce their reliance on any single payer.
Certification and Licensing
We are currently helping all Medical & Mental Health providers to increase the revenue inflow of the practice through the below certifications.
CLIA Certification – All states in USA
OHMAS Certification – for State of OHIO