Increase Profitability and Turnaround Time with Outsourced Healthcare Credentialing
Staffing Industry Analysts finds that the credentialing process for 67% of clinicians takes two to three weeks. Though the time and effort companies exert to protect their clients against liability is valuable – overlooking any type of verification check for clinicians puts lives at risk – most encounter obstacles to making the process quick, cost-effective, and precise. Outsourcing components of the credentialing process not only manages to improve the vetting process of healthcare professionals, but lowers SG&A costs while increasing placement rates. Though some companies are reluctant to outsource a high liability practice, the proven process of an offshore RPO like PSG Global Solutions mitigates the fears of large organizations, including top 10 staffing firms.
Getting Greater Accuracy in Credentialing for Less
One top 10 healthcare staffing company was initially hesitant to outsource credentialing because of the liability, but a tendency for decreased margins across verticals made the prospect of reducing SG&A too promising to ignore. Outsourced credentialing support could help verify clinicians’ references, education, specific certifications, licensure, and work history while also managing all the documents associated with these activities. By choosing to work with PSG Global Solutions, they not only selected the right offshore partner to mitigate their risk, but the end result provided a significant return on investment.
Since we implemented our offshore credentialing support services program, our offshore team of recruitment coordinators has helped onboard over 50,000 clinicians and conducted over 200,000 reference checks and verifications of employment to help place those candidates. Our offshore resources have vetted and verified all clinical hires across locums, nursing, and allied positions. More than just productivity, the program:
- Reduced the cost of reference checks by over 60%
- Saved over $1.5 million annually
- Improved turnaround time to complete references by 50%
- Increased performance of all key metrics beyond historic measures
These results have encouraged the client to expand their original team of 5 offshore resources to 50 resources, helping lower SG&A costs even further.
How Our Outsourced Healthcare Credentialing Delivers Results
Which processes enable companies to save on credentialing related expenses while keeping risks low? Working with our portfolio of Healthcare clients, we have identified specific activities, metrics, technologies, and roles necessary to drive quality improvements, turnaround time, and savings.
Mitigating liability is always one of our primary concerns, so our offshore recruitment coordinators adhere to a specific process that delivers results. We handle all of the calls for reference checks and verifications of employment. We run background checks through appropriate channels and receive e-fax responses to put in a centralized data repository. We set up drug screen events, run license verifications, and file all necessary documents such as state licenses, TB tests, and criminal background checks in the client’s system to ensure that all the necessary documents are in place to put the healthcare professional to work.
If there are any exceptions that fall outside of our strict set of rules, our offshore resources escalate all requests to an onshore Credentialing Manager who reviews them to ensure no risk is associated with placing a specific healthcare provider. All of our resources work efficiently and carefully following the guidelines provided.
Beyond that, our offshore resources even take on a range of administrative functions above and beyond to support our clients’ recruiting administration processes. We handle:
- Posting jobs
- Timecard auditing and exception management
- Collections support
- Billing and collections
For travel nursing, this can be especially beneficial. Would you rather have a high paid travel nurse recruiter handle activities like posting jobs and packaging candidates for submittal, or a less expensive yet more productive offshore support team? Our resources are used to facilitate a smooth process and provide more cost-effective solutions. Our proactive measures like attributing or labeling of candidates in the ATS allow companies to better search for clinicians based on specific skillsets as well as better allocate those candidates to assigned recruiters.
The thoroughness of our outsourced credentialing process and the ROI our work makes possible has allowed us to consistently scale and retain the clients using our outsourced reference check and verification services. The savings and accuracy have proven a long-term gain for staffing firms as markets tighten and competition steadily rises.
Want to learn more about how to lower credentialing costs and liability? Contact us today.