The credentialing process can be cumbersome for both healthcare providers and health plans. After provider data collection, health plans defer credentialing decisions until they complete primary source verification (PSV). The PSV process is often time-consuming and results in redundant outreach as multiple plans request the same information from a provider.
For health plans looking to reduce the burden of provider data verification, VeriFideTM can help. This automated CAQH Solution authenticates the accuracy and completeness of credentialing information submitted by healthcare providers to plans. It not only addresses the inefficiencies of PSV but also provides a cost-effective approach that reduces manual intervention through system integrations and the automation of primary source queries.
VeriFide returns 98 percent of initial files to a plan for credentialing decisions in just 14 days, with 98.5 percent accuracy and completeness.
Upcoming new features include a self-service portal that enables plans to track credentials – either one provider at a time, or in batches – throughout the primary source verification process. This real-time visibility will make it easier for health plans to update providers about their credentialing status and when they will be able to participate in the network.
With VeriFide, the credentialing process is faster, more accurate and less costly. It also significantly reduces the “chase work” involved in finding primary data sources.
Click here to learn more about VeriFide and how it can reduce credentialing difficulties.