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SMARTER Credentialing means less risk and greater reward.

[reward > risk]

In the inherently risk-laden field of healthcare, our mission at 5ACVO is to mitigate these risks for our providers as much as possible. We are dedicated to not only reducing risk but also enhancing revenue potential for healthcare providers. Our approach is grounded in the belief that credentialing should serve as a strategic advantage, contributing to a net gain for healthcare providers by simultaneously decreasing risk and augmenting income, thereby creating a scenario where the reward outweighs the risk [reward > risk].

Partnering with 5ACVO brings a significant reduction in credentialing risks. This is achieved through the implementation of the hierarchy of control model, a systematic approach that effectively minimizes risks associated with the credentialing process. Moreover, our methods open up avenues for increased billings per CVO credentialed provider, thereby enhancing revenue opportunities. An added advantage of working with 5ACVO is our cost-effectiveness: we offer credentialing services at approximately 69% lower cost than the traditional market. This cost efficiency, combined with our risk mitigation strategies and revenue enhancement opportunities, positions us as a valuable partner in your healthcare practice.

Smarter credentialing results in less risk.

CDC Heiracrhy of Control CDC.gov
CDC Hierarchy of Controls CDC.com

The CDC’s hierarchy of controls model offers a valuable framework that can be effectively applied to the credentialing market.

Credentialing is an essential prerequisite for providers before initiating billing. By minimizing this barrier to billing as much as possible, we can offer the most effective control over the process to our providers.

At 5ACVO, we have significantly streamlined the credentialing process, eliminating approximately 88% of the traditional steps. We have reduced the customary 52-step credentialing procedure to just 6 straightforward steps necessary for a complete, credentialed file, ready for board or committee review. This substantial reduction not only simplifies the process but also accelerates the path to billing, enhancing operational efficiency for healthcare providers.

Smarter credentialing results in enhanced rewards.

Smarter credentialing equates to less risk and greater reward for healthcare providers. By optimizing the efficiency of the credentialing process, 5ACVO not only facilitates a smoother, quicker path to provider activation but also opens doors to substantial revenue increases. According to studies by NAMSS and Merritt Hawkins, providers credentialed through a CVO have the potential to bill an additional $47,000 on average.

This notable increase in billing capacity highlights the financial benefits of streamlined credentialing, where less risk in the process translates directly into more substantial and tangible rewards for healthcare providers. This approach significantly mitigates the usual hurdles and delays associated with traditional credentialing, offering a more efficient, less risky pathway to revenue generation.

5

5 – 7 Days Faster
Processing with the CVO

Research conducted by the National Association of Medical Staff Services (NAMSS), as outlined in their Medical Service Staffing Study from September 2009, reveals that credentialing through a Credentials Verification Organization (CVO) is, on average, 5 to 7 days faster than other methods. This finding underscores the efficiency of CVO-processed credentialing.

https://www.namss.org/

$2,378,727

Average annual physician generated revenue

Research conducted by Merritt Hawkins indicates that the net average annual revenue generated by all physicians amounts to $2,378,727. This figure represents a significant contribution to the healthcare sector’s overall financial performance, as measured by physician-generated revenue.

https://www.merritthawkins.com/

$47,196

Additional average billing opportunity from each CVO credentialed Provider 

Utilizing the Merritt Hawkins data on the net average annual billing of $2,378,727 and dividing it by the standard number of working days in a year (252), we arrive at a daily average revenue of $9,439.39. By applying this daily revenue figure to the efficiency gains offered by a Credentials Verification Organization (CVO) process, as indicated by NAMSS research, we can calculate the potential for additional billing.

With a CVO being able to turn around a file 5 days faster on average, this translates to an opportunity for each CVO credentialed provider to potentially bill an additional amount of 5 days multiplied by the daily average revenue, which is 5 x $9,439.39 or approximately $47,196. This calculation highlights the significant financial benefits that can be achieved through more efficient credentialing processes.

5ACVO $47,000 Revenue Opportunity 5ACVO.com

Less risks with greater reward.

The data presented above illustrates a substantial increase in potential billing opportunities, with an additional $47,196 per provider when credentialing is facilitated through a Credentials Verification Organization (CVO).

Our primary goal at 5ACVO is to empower providers to see and serve as many patients as possible, while simultaneously optimizing their revenue generation. By choosing 5ACVO, you are selecting a smarter approach to credentialing that significantly reduces processing time. This reduction directly translates to increased available billing time, enabling healthcare providers to focus more on patient care and less on administrative processes, thereby enhancing both service quality and financial outcomes.

For comprehensive insights into the credentialing industry, including the latest information on Medicare, Medicaid, and PECOS, as well as an understanding of a credentialing IPA, visit our award-winning credentialing blog. It also covers topics such as PECOS and medical malpractice, and offers in-depth articles on specific issues like Florida’s ‘Free Kill Law’ and ‘long tail coverage‘ in medical malpractice.

Our award-winning blog is a rich resource for Federal healthcare updates, including information from various payers and detailed payer audit scores. Additionally, it provides the latest COVID-19 updates and information about our parent company Fifth Avenue, along with insights into our leadership, team members, and partners.

Remember, there are numerous advantages to outsourcing your credentialing, and our team is dedicated to providing you with the support and expertise necessary for a seamless process. We are here to assist you in every step of your credentialing journey.

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Join thousands of other providers, doctors, surgeons, medical practices, rural hospitals and large medical groups across the country in credentialing with 5ACVO.

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