The Importance of Insurance Credentialing:
For your success, it is important to get on insurance panels. It does not matter if you are working for a company or you are in private practice, credentialing is an important first step to having a successful practice.
When working for a company or a large practice, there is the possibility that you (as a counselor or mental health professional) work under the group contract the company has with the insurance companies. This means that you, as an individual counselor, are not paneled. Therefore, in any case that you decided to leave your post, it is possible (and likely) that you will not be able to work with the insurance of new clients, despite having several years of experience accepting insurance. Insurance credentialing gives you leverage and protection if you decide to leave your job.
2) There are more HMOs than PPOs
When a patient uses his/her insurance, he/she will require you to be paneled with his/her insurance company and to be in network. People with PPO plans can see psychiatrists, psychologist and counselors who do not belong to their network (these are, non-credentialed professionals with license), in some cases, but it costs the client more. Additionally, those with PPO plans could face considerable fees and penalties because they have chosen a provider who is out of network. But if a counselor has been credentialed by insurance companies, they will be able to accept more clients.
3) Universal Healthcare means that everyone can see a Therapist
Many changes have been happening in the world of healthcare. One of the changes was the Affordable Health Care Act which was created to help USA citizens have health insurance. If you are not accepting insurance, you should. With the changes being enacted in 2014, 2013 is a great year to get provider credentialing.
Many of the new healthcare policies allow your clients to use their insurance for visits. Getting credentialed can take between 90-120 days, so now is a great time to get started.
4) Closing of Insurance Credentialing Panels
It should be noted that a lot of panels are closing at this time or are closed. This means that for new providers who are entering the field, you need to hurry to get on insurance panels before the panels close. For more information and to get started, call us at 1-855-4-THRIVE (1-855-484-7483).