For medical providers venturing into the world of private practice, the journey begins with crucial decisions that set the course for their business. One of the most pivotal choices is determining whether to work with insurance companies, limit participation to specific insurers, or operate as an out-of-network provider. Navigating this decision-making process is where WCH comes into play, offering expert guidance to help providers kickstart their practice.
The decision to work with insurance payers or remain private can have a profound impact on the success and sustainability of a medical practice. It hinges on several factors, including the provider's specialty and the availability of insurance networks willing to accept them. At WCH, we understand the significance of this decision and work collaboratively with providers to identify the best approach for their unique circumstances and chosen locations.
WCH serves as a steadfast partner for medical providers embarking on this transformative journey. Our comprehensive services encompass every aspect of practice management, starting with the credentialing process. We recognize that navigating the complex world of insurance can be challenging, and our team is dedicated to streamlining the process, ensuring that providers are well-prepared to engage with insurance networks.
The credentialing process, often taking around 90 days to complete, is a pivotal milestone for providers seeking to work with insurance companies. Some payers may extend this process to 120-180 days. These timeframes are crucial considerations when entering the private practice arena. At WCH, we help providers navigate the credentialing labyrinth, ensuring that all requirements are met efficiently and effectively.
Working in the private sector necessitates specific requirements, such as general liability, professional liability, hospital privileges, and ownership of a Drug Enforcement Administration (DEA) number, among others. WCH provides guidance and support in meeting these prerequisites, ensuring providers have a strong foundation to build upon.
Starting a medical practice is a journey filled with complexities, but with WCH as your guide, you can navigate the industry with confidence. We offer a wealth of experience, expertise, and resources to empower providers and help them establish successful practices. Whether you're grappling with insurance decisions, seeking credentialing assistance, or managing billing and documentation, WCH is here to support your vision and ensure you chart a course toward a thriving medical practice.
