The 4 Ds of Provider Onboarding Guide
THE 4 Ds OF PROVIDER ONBOARDING:
Provider Onboarding Delays
Delays = Dollars Lost.
The Foundation of Successful Provider Onboarding.
Takes Care of the First 3 Ds.
The Impact of Provider Onboarding
Many healthcare organizations are struggling financially in the wake of the COVID-19 pandemic. Volume and revenue declines have resulted in plummeting margins, which were a whopping 326 percent below budget in April 2020.
Razor-thin margins have created staff and resource shortages that compromise the ability of healthcare organizations to deliver high-quality care. Now, more than ever, healthcare organizations must focus on their financial health.
In addition to being essential for patient safety and quality care, provider onboarding provides valuable, untapped opportunities for an organization to improve its revenue cycle and overall health. Historically, only when delays and backlogs resulted in serious financial and administrative woes in the form of bad debt or frustrated providers, have most organizations focused attention on provider onboarding.
A well-managed, efficient provider onboarding program—characterized by the “4 D” principles—promotes faster access to revenue, accelerates contracting and onboarding timeframes, streamlines processes and data across an entire healthcare organization, promotes compliance with regulatory bodies, increases provider satisfaction, enables appropriate care coverage, and eliminates unnecessary reimbursement delays and errors caused by siloed and legacy technologies.
This e-book discusses the 4 Ds of a successful provider onboarding program and offers action steps to improve a healthcare organization’s financial wellness.