What are the average cost savings you can offer to a plan or provider group?
Costs can be reduced in many ways – staffing is certainly the greatest. Industry statistics indicate that the cost to process an application range from $200-$400, depending upon the information required. This includes staff time, computer expenses, postage, paper, filing and fees charged by various agencies. For example, let us say that the average salary of the credentialing specialist was $35,000 and there were three employees handling credentialing and they had 500 physicians to recredential every year and 100 reappointments per year. The cost of COL processing these respectively is $50.00 for each recredentialing and $100.00 for each initial appointment fee. This sum is significantly lower than having the health plan or organization cover these costs. Click here for a CredentialsOnLine cost analysis COL also employs our advanced Internet based credentialing software, Echo. Echo technology allows us to streamline the credentialing process by using a variety of online sources and our
Related Questions
- Does the change in the AEP Retirement Savings Plan service provider apply to the non-qualified plans, including the supplemental savings plan and the deferred income plan?
- Do all the Medicare Prescription Drug Plan (PDP) sponsors offer the same cost savings and types of plans?
- What are the average cost savings you can offer to a plan or provider group?
