As we approach the conclusion of 2023, it's an opportune moment to set our sights on the year ahead and craft resolutions that will shape the future of your practice. Whether you're contemplating a relocation, considering closing or opening a location, or exploring the addition of providers, now is the time to reflect on your business model as a practice owner and strategically plan your next moves for the upcoming year.
Strategic Considerations for Practice Changes
If a relocation or a change in your practice's location is on the horizon, it's crucial to be mindful of the timelines involved. Informing your insurance company about such changes is not only a procedural requirement but also a strategic move to ensure a seamless transition into the new year. Keep in mind that the processing of such requests by insurance companies may take some time, potentially impacting the approval of these changes in the new year. The same holds for adding or changing a location, a process that can extend up to six weeks, bringing it close to the year-end.
Anticipating Processing Time for Practice Enhancements
Whether you're moving, relocating, closing locations, or expanding to another state, such endeavors often necessitate acquiring a new license, a task that involves its own processing time. Additionally, insurance companies will only initiate the credentialing process when all required documentation is in place. To facilitate this, it becomes imperative to update your practice demographics with the relevant insurance companies.
Planning Ahead for Provider Additions
For practices looking to hire new staff, whether it's an additional physician, psychiatrist, or physical therapist, it's essential to consider the time required for the credentialing process. Adding a new provider typically takes around three months to complete, aligning with the effective date for future billing.
Why Choose WCH for Credentialing Needs?
As you embark on the journey of preparing for the next year, WCH stands ready to assist with your credentialing requirements. With expertise and efficiency, WCH can navigate the intricate processes, ensuring that your practice is well-positioned for growth and success in 2024.
Embrace strategic planning, prepare for the future, and make WCH your trusted partner for a seamless credentialing experience. Start the new year on a strong note with a practice that is poised for success.
