REVENUE IMPACT OF CREDENTIALING BOTTLENECKS
Healthcare providers face significant financial losses due to lengthy credentialing processes, according to new data from Assured. The healthcare credentialing site reports that providers wait an average of 90 to 120 days to complete the credentialing process, resulting in substantial revenue losses across multiple healthcare professions.
PHYSICIANS FACE HEAVIEST FINANCIAL BURDEN
Physicians and surgeons experience the most severe financial impact from credentialing delays. Based on their average annual salary of $239,200 (according to U.S. Bureau of Labor Statistics), these providers lose up to $122,144 during the typical 120-day credentialing period. Dentists and podiatrists follow closely behind, losing up to $87,274 and $72,332 respectively during the same timeframe.
OTHER HEALTHCARE PROFESSIONS AFFECTED
The financial impact extends across the healthcare spectrum. Pharmacists lose approximately $69,462, while medical dosimetrists face losses of $67,854. Other significantly affected professions include:
- Optometrists: $67,333
- Physician assistants: $66,394
- Nurse anesthetists, midwives, and practitioners: $66,118
- Veterinarians: $60,817
- Physical therapists: $50,916
SYSTEMIC INEFFICIENCIES IN CREDENTIALING
Provider credentialing serves as a critical verification process for healthcare professionals’ qualifications, including education, licensure, and clinical experience. This essential process enables providers to deliver patient care and become eligible for payer reimbursement. However, the current system often requires duplicative and manual work across multiple payer partners, creating administrative bottlenecks.
INDUSTRY CONCERNS ABOUT BROADER IMPACT
Assured’s CEO and co-founder Varun Krishnamurthy highlighted the broader implications of these delays: “Credentialing delays have been holding healthcare professionals back for years, and now we know just how much it’s costing them—especially doctors, dentists, and podiatrists.”
He further emphasized that the impact extends beyond financial considerations, noting that “these delays worsen staffing shortages, putting even more strain on an already overwhelmed healthcare system.”
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