Smarter. Simpler. Better credentialing with 5ACVO.

At 5ACVO, we are profoundly committed to advancing the healthcare sector, inspired by a dedication reminiscent of Florence Nightingale’s passion. Our expertise lies in navigating the intricate credentialing process, a crucial step in supporting healthcare delivery to those who need it most. Our team works tirelessly to ensure that healthcare providers have seamless access to the necessary support and services.

Our central objective is to revolutionize the credentialing experience for providers, aiming to offer a service that is not just more efficient, but also more meaningful. We focus on better credentialing by reducing complexities and enhancing the positive outcomes of the process. This commitment is a cornerstone of our mission to elevate the efficiency and effectiveness of healthcare services. We believe in transforming credentialing into a powerful tool that aids, rather than hinders, the noble endeavor of delivering exemplary healthcare.

I am of certain convinced that the greatest heroes are those who do their duty in the daily grind of domestic affairs whilst the world whirls as a maddening dreidel.

Florence Nightingale Tweet

Better credentialing reduces the negative impact credentialing can cause.

Credentialing, while essential, often presents a complex and costly challenge. If not meticulously handled, it can escalate liabilities for both healthcare providers and patients. Traditional credentialing processes are typically laden with manual, repetitive tasks. Despite this, credentialing remains a critical component, underpinning a provider’s ability to see patients effectively and ensuring proper billing and revenue collection from payors for services rendered.

At 5ACVO, we focus on better credentialing, a strategy that significantly mitigates the potential negative impacts of the credentialing process in three critical areas:

Cost Reduction: Better credentialing with 5ACVO streamlines the financial aspect of the process, reducing credentialing costs and ensuring more economical operations.
Risk Mitigation: Our approach effectively reduces the risks associated with credentialing, safeguarding both providers and patients.
Workload Efficiency: We also focus on reducing the overall workload involved in credentialing, translating to a more efficient and less burdensome process.

Through these targeted improvements, 5ACVO enhances the overall credentialing experience, making it more effective and less cumbersome for healthcare providers.

Better credentialing increases the positive impact credentialing can create.

Credentialing fundamentally serves as a safeguard for patients, instilling confidence among the general public, payors, and employers who collaborate with healthcare providers. Despite its complexity, the time-intensive nature, and associated costs, engaging with a proficient credentialing team can yield significant positive outcomes.

Enhancing the credentialing process with 5ACVO amplifies its beneficial impact in several key ways:

Increased Control: Better credentialing with 5ACVO grants providers greater oversight and command over the entire process.
Enhanced Resources: Our approach provides an abundance of resources, streamlining and facilitating the credentialing journey.
Augmented Rewards: Opting for better credentialing with 5ACVO leads to increased rewards, both in terms of operational efficiency and potential revenue growth.

This elevated approach to credentialing by 5ACVO not only simplifies the process but also enhances its effectiveness, making it a valuable asset to healthcare providers.

Better credentialing reduces cost.

The average annual market cost of credentialing per credentialed provider is $649 (based on research from NAMSS and using the industry mean for the total annual compensation of a Sr Credentialing Specialist). This research shows that credentialing with 5ACVO is 69% lower than the average annual market cost.

MSP Ratio 1:112

112

Total Annual Compensation Credentialing Specialist SR.

$ 72725

Annual Average Market Cost per credentialed provider

$ 649

Better credentialing reduces risk.

The hierarchy of controls model, as established by the CDC, offers a pertinent framework for managing risk in various sectors, including the credentialing market. This model posits that the most effective way to reduce workplace risk is by eliminating or minimizing recognized hazards. When this model is applied to the credentialing sector, it suggests that delegating either a portion or the entirety of the credentialing process to a reliable, expert credentialing partner can substantially reduce the inherent liabilities of the process.

Credentialing is an indispensable prerequisite for providers before they can commence billing. By minimizing the credentialing-related obstacles to billing, effective control over the process can be significantly enhanced for providers. 5ACVO plays a crucial role in this regard, eliminating approximately 88% of the traditional steps involved in the credentialing process. This streamlining ensures that providers have a complete and thoroughly reviewed credentialing file ready for board or committee evaluation, thereby simplifying and accelerating the path to billing.

Better credentialing reduces workload.

The credentialing experience undergoes a significant transformation before and after partnering with 5ACVO. We have revolutionized the process by eliminating approximately 88% of the traditional steps involved in credentialing. By streamlining the conventional requirements, we have reduced the process from a cumbersome 52 steps to just 6 straightforward steps. This refinement results in a completed, fully credentialed file, marking a stark contrast to the credentialing journey without 5ACVO’s expertise and processes in place.

Credentialing Before working with 5ACVO

Conventional Credentialing Activities Required

Credentialing AFTER working with 5ACVO

Just 6 Simple Steps

This is a visual overview of the credentialing process BEFORE 5ACVO.

Initial Applicant Items

Send out, track and receive provider application packet

Obtain Provider’s release

Obtain privilege forms

Review disclosure Q&A

Review explanations of time gaps and claims history

Review Medical Malpractice claims history

Obtain applicable certificate copies: Board, ECFMG, Medical School, Internship, Residency, Fellowship and two years CME

Obtain copies: government issued Photo ID, Malpractice, DEO and CDS

Obtain CPR, ACLS and PALS certificate copies as applicable

Obtain TB, MMR, varicella and flu vaccination records

Attest any conflict of interest, orientation and Medicare (Hospital)

Collect background provider release and order criminal background check

Obtain Allied Health Professional’s Supervising Physician’s Statement

Initial Primary Source Verifications

Verify Board Certifications

Review and Confirm AMA and / or AOA Profile

Verify medical school Internship, Residency, Fellowship and Affiliations

Confirm State Medical Licensure

Obtain Professional Peer References

Gather current Medical Malpractice claims history

Research Primary and Out of State License for Disciplinary Actions

Verify DEA

Verify CDS as applicable

Obtain copy of current Certificates of Insurance

Verify any Medicare and Medicaid sanctions (OIG) and exclusions (SAM)

Perform extensive 10 year criminal background check

Run NPDB query

Reappointment Applicant Items

Send out, track and receive provider application packet

Obtain Provider’s release

Obtain privilege forms

Review disclosure Q&A

Review explanations of time gaps and claims history

Review Medical Malpractice claims history

Obtain applicable certificate copies: Board, ECFMG, Medical School, Internship, Residency, Fellowship and two years CME

Acquire copies of current Certificates of Insurance

Obtain CPR, ACLS and PALS certificate copies as applicable

Obtain TB, MMR, varicella and flu vaccination records

Attest any conflict of interest, orientation and Medicare (Hospital)

Collect background provider release and order criminal background check

Obtain Allied Health Professional’s Supervising Physician’s Statement

Reappointment Primary Source Verifications

Verify Board Certifications

Review and Confirm AMA and / or AOA Profile

Verify medical school Internship, Residency, Fellowship and Affiliations

Confirm State Medical Licensure

Obtain Professional Peer References

Gather current Medical Malpractice claims history

Research Primary and Out of State License for Disciplinary Actions

Verify DEA

Verify CDS as applicable

Obtain copy of current Certificates of Insurance

Verify any Medicare and Medicaid sanctions (OIG) and exclusions (SAM)

Perform extensive 10 year criminal background check

Run NPDB query

This is a visual overview of the credentialing process AFTER 5ACVO.

Initial Applicant Items

NO ACTION NEEDED

Initial Primary Source Verifications

Provide 5ACVO a signed release

Evaluate the completed Credentialing File from 5ACVO

Present evaluation to Board for decision

Reappointment Applicant Items

NO ACTION NEEDED

Reappointment Primary Source Verifications

Provide 5ACVO a signed release

Evaluate the completed Credentialing File from 5ACVO

Present evaluation to Board for decision

Before and After is for illustrative purposes. Contact 5ACVO to discuss your specific circumstances.

Better credentialing increase the positive impact credentialing can create.

Better credentialing increases control.

As with any complex process, it is important to maximize the control and efficiency of the process itself. This CDC representation of ‘Hierarchy of Controls‘ highlights the most effective control methods over a five tier model.

Reducing the necessary hazard of credentialing is a positive step in gaining more control over the process and such implementation is an increase in effectiveness. By reducing the steps in credentialing from 52 down to 6 gives you more control while simultaneously reducing your workload.

Another method to help increase your control over your credentialing process is to provide you with best-in-class tools through 5ACVO credentialing technology. Our 5ACVO workflow software is the secret sauce to helping you gain greater control with a streamlined and reduced workload.

Better credentialing increases resources.

Items taken off your plate

5 Days Faster Credentialing

385+

Years of Industry Experience

54+

Provider Enrollment Options through Primoris, a 5ACVO sister company

$47,196

net new billing opportunity per CVO credentialed provider

44%

of the 5ACVO team has 20+ years of experience

63%

of the team has 10+ years experience

1,000,000

other things you’d rather be doing right now instead of credentialing

ONE point of contact. ONE email. ONE phone number. ONE web portal.

Better credentialing increases reward.

Enhancing the efficiency of the credentialing process creates significant opportunities for increased revenue for our credentialed providers. By streamlining this essential process, providers can focus more on delivering healthcare services rather than getting entangled in administrative complexities.

Drawing upon data from the National Association of Medical Staff Services (NAMSS) and research conducted by Merritt Hawkins, it’s evident that providers credentialed through a Credentials Verification Organization (CVO) can potentially see a notable increase in billing. On average, these providers could bill an additional $47,000, a substantial increase that highlights the financial benefits of an expedited and more efficient credentialing process. This improved efficiency not only accelerates the path to revenue generation but also enhances the overall financial performance of healthcare providers.

5 – 7 Days Faster
Processing with the CVO

Research conducted by the National Association of Medical Staff Services (NAMSS), as detailed in their Medical Service Staffing Study from September 2009, indicates that the credentialing process through a Credentials Verification Organization (CVO) is on average 5 to 7 days faster than traditional methods. This finding highlights the efficiency and speed that a CVO can bring to the credentialing process.

$2,378,727

Average annual physician generated revenue

According to research conducted by Merritt Hawkins, the net average annual revenue generated by all physicians amounts to $2,378,727. This figure represents the substantial financial contribution of physicians to the healthcare system on an annual basis.

$47,196

Additional average billing opportunity from each CVO credentialed Provider

Based on Merritt Hawkins’ research indicating a net average annual billing of $2,378,727 for physicians, and dividing this by the standard number of working days in a year (252), we calculate a daily average revenue of $9,439.39.

When we apply this daily revenue figure to the efficiency gains provided by a CVO – which can process credentialing files on average 5 days faster – we can determine the potential for additional billing. For each provider credentialed through a CVO, this equates to an opportunity for additional billing of 5 days multiplied by the daily average revenue, resulting in approximately $47,196.

Less risks with greater reward.

The data presented highlights a significant increase in billing opportunities, amounting to an additional $47,196 per provider, when credentialing is conducted through a Credentials Verification Organization (CVO).

Our ultimate objective at 5ACVO is to assist providers in maximizing their patient care while simultaneously generating efficient revenue. By opting for 5ACVO’s smarter credentialing approach, providers can significantly reduce their credentialing processing time. This reduction in processing time directly translates into increased available billing time, allowing healthcare providers to focus more on patient care and less on administrative tasks, thereby enhancing both their service quality and financial performance.

Visit our award-winning credentialing blog for smart insights on credentialing and contracting, along with the latest updates on Medicare, Medicaid, and medical malpractice. Our blog features educational cornerstone articles, such as “What Is A Hammer Clause” and “Charting Best Practices.” Additionally, stay informed on provider enrollment updates from our sister company, Primoris.

Our blog also provides news and information from various payers and critical COVID-19 updates. Gain unique perspectives through the Fifth Avenue Spotlight, which highlights our team members and partners, offering valuable insights into our collaborative efforts.

Remember, there are numerous benefits to outsourcing your credentialing needs, and we at 5ACVO are committed to assisting you through every step of the process. We are here to provide the support and expertise needed to navigate the complexities of credentialing efficiently.

Unlock Better Credentialing: Start with 5ACVO Today

Join a thriving nationwide group of providers, doctors, surgeons, medical practices, rural hospitals, and large medical groups who have chosen 5ACVO for better credentialing. Be part of this diverse and professional community, experiencing the ease and efficiency of our streamlined credentialing process.

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Smarter. Simpler. Better credentialing with 5ACVO.

Better credentialing reduces cost.

Better credentialing reduces risk.