Telehealth Compliance
No industry must contend with the need for credentialing and compliance management quite like the telehealth industry. On the one hand, telehealth companies must comply with HIPAA regulations, while also making sure their providers remain independently credentialed and accredited. On the other, they need to do it as quickly and cost-effectively as possible. Fortunately, credentialing management solutions offer these telehealth companies the means to maximize their return on investment (ROI) by streamlining compliance and managing providers in the most efficient manner.
The fact remains that the U.S. healthcare system is highly regulated and compliance can be an arduous process. Credentialing management solutions address this compliance issue by providing document automation, network connectivity, and self-auditing capabilities. Specifically, they accomplish this by using a cloud-based platform to store credentials and verification information, enabling streamlined provider mapping, communication, and invoicing processes. This, in turn, helps telehealth firms create uniformity, transparency, and accuracy when managing provider information.
But it is not just about simplifying the compliance process for providers. Credentialing management solutions can also save telehealth companies money. Surveys reveal that most providers have to be reappointed annually, which can be both time-consuming and costly. Credentialing solutions can help telehealth firms automate the reappointment process and reduce the time spent on paperwork, thereby saving them both the cost of the extra staff and the wages they would need to pay them.
Credentialing management solutions can also help telehealth companies better track, manage, and audit providers on an ongoing basis. By implementing cloud-based analytic tools, they can monitor provider data and make sure all credentialing requirements are being met, while also increasing efficiency and speed. Additionally, they can leverage data to produce reports and identify trends, allowing them to better measure provider performance and compliance.
In summary, credentialing management solutions offer telehealth companies the means to optimize their ROI. While they simplify the compliance process for providers, credentialing solutions can also save telehealth companies money by automating reappointment and reducing paperwork, as well as helping them better track, manage, and audit their providers. Therefore, investing in credentialing management solutions can be an beneficial decision for both providers and telehealth companies alike.
