As a result of growing interest in closed insurance panels, on Thursday July 31st, 2014, Olga Khabinskay, COO and credentialing specialists hosted a webinar providing detailed information about accessing closed insurance panels and unlocking additional revenue.
When insurance companies deny your participation in a network, you get blocked from access to an entire population of patients that could bring a significant amount of business and revenue to your practice. With the right approach your practice can get into a closed panel if it is really worth to fight for it, there is no reason why you should miss out on additional potential reimbursement.
IMPORTANT HIGHLIGHTS FROM THE INFORMATIONAL WEBINAR:
Top reasons insurance panels are closing:
- Too many providers applying
- Network capacity reached
- Insurance renegotiating their contract with the state
- Upcoming merger with another health plan
- Temporarily closed due to office operations
- State restrictions set off by Medicaid program
Tips on how to fight to get into a closed panel:
- Show your practice uniqueness in service
- Demonstrate the need of the community in your services
- Review the network to identify your competitors
- Create a list of dismissed patients due to the fact that your out of network
- Get to know your local politicians
- Create your selling propositions (marketing concept)
- Be prepare to write an appeal letter and fight
When writing an appeal:
Writing an appeal letter is a complex and detailed process, your appeal letter should have all the right components to be effective and get you the desired results. Highlight the unique and important factors of your practice as opposed to your competitors and stress the dire need of the population in your area in your services.
There are additional options for providers such as hiring a knowledgeable and experienced credentialing specialist to help you get into a closed panel. If you or someone in your practice is struggling with a closed panel, turn to WCH credentialing experts for help. A consultation with a credentialing specialist is absolutely free but could be very valuable to your future patient flow and revenue.
