The Health Management Academy publishes insights from leading healthcare systems analyzing the hidden costs of credentialing delays and how real-time digital credentials will address this problem.
CLEVELAND, February 16, 2021 – The Health Management Academy (The Academy) has released a whitepaper detailing the results of a recent study involving eight U.S. health systems. The study, sponsored by Axuall, analyzed the impacts that delays in practitioner credentialing have on these organizations, focusing on three key areas: leakage, burnout, and financial performance. Applying operational data and executive interviews, the study describes how integrating real-time digital credentials into onboarding processes can address these challenges, resulting in millions in bottom-line savings.
A thorn in the side of administrators and practitioners alike, practitioner credentialing is a process that traditionally takes months to complete. One executive described it as “a metaphor for all the brokenness in healthcare.” Meanwhile, patients wait longer for care or go elsewhere if they can’t. Health systems are consistently at risk of network and referral leakage, with timely access to care being a leading cause of patient leakage.
Digital credentials store facts about practitioners’ careers, including their education, training, licenses, certifications, work history, hospital affiliations, privileges, peer references, competency evaluations, malpractice coverage, sanctions, and disclosures. Because digital credentials are encrypted, their authenticity, integrity, and primary source can be verified instantly when connected to a national data network like Axuall.
The case study found that by reducing unnecessary delays in practitioner onboarding, health systems can capture services revenue that would otherwise be lost. “When it comes to delays in provider credentialing, we don’t think about it as delayed revenue; we think about it as lost revenue,” said a Medical Group President at one health system. An in-depth analysis of one large health system indicated it will save $74,000 per physician by integrating real-time digital credentials into its processes.
“The insights provided by these health systems shed light on a significant opportunity to improve operating efficiency and reduce practitioner burnout, all while enabling them better meet patient needs,” stated Charlie Lougheed, CEO of Axuall. “It provides yet another example of how real-time data is improving healthcare for everyone.”
University Hospitals, a leading health system that participated in the study in 2020 and is now rolling out Axuall digital credentials to their practitioners, will share their experience and perspectives during the upcoming Health Management Academy webinar on March 3rd. Registration is free and open to the public. The published whitepaper is available for download on Axuall’s website.
