Telehealth Compliance
Telemedicine, an industry that has seen a massive surge in the past five years, is not immune to the same credentialing problems that face traditional healthcare providers. Administrators must ensure that their organization – in particular, their suppliers – are compliant with legal and regulatory requirements. This may seem straightforward, however with the growing number of regulations and policies put in place each year, it becomes increasingly difficult for practitioners to remain on top of their credentialing requirements. Given the numerous risks associated with non-compliance in the telemedicine environment, any head of finance in the industry would be wise to consider incorporating an in-house credentialing management solution into their organization.
First and foremost, one must determine the personal cost of non-compliance. “Non-compliance” in this setting encompasses all facets of credentialing requirements, from verifying that suppliers practice within its defined scope of service to ensuring that suppliers mentor and manage their staff in an appropriate manner. Any instance of non-compliance could not only lead to costly fines, but could also result in the suspension of services and loss of business. This can be devastating, especially in the telemedicine environment where practitioners already have limited resources and may lack the support systems of more traditional healthcare organizations.
Another issue to consider with credentialing is the labor involved in the process. Outsourcing to a separate service can be costly and can also take a significant amount of time to complete. And if the outsourcing is done incorrectly, it can lead to costly delays and wasted resources. An in-house credentialing management solution can provide a streamlined way for practitioners to complete their credentialing processes quickly, efficiently, and with minimal cost. For this reason, a solution that can be customized for the specific needs of a practitioner should be preferred.
A final element that should not be ignored is the risk of fraud. Many suppliers – even those operating in the telemedicine environment – may not be aware of the legal and regulatory requirements specific to their industry. Further, if the credentials verification process is delegated to an outside service, their lack of understanding or experience could lead to fraudulent activity. By employing an in-house solution, practitioners can ensure that suppliers and their personnel are complying with all laws and regulations, thereby reducing the risk of fraud.
In conclusion, an in-house credentialing solution for telemedicine organizations is an excellent way to minimize the risks associated with non-compliance, labor costs, and fraud. For this reason, any head of finance in the industry should consider investing in an in-house credentialing management solution in order to provide their organization with the best possible service and most efficient operation.
