At 1ˢᵗ Credentialing we know that when our clients place their trust in us, we take that responsibility seriously by communicating with our clients to create a transparent and collaborative partnership.
Healthcare organizations of every size realize that hiring 1ˢᵗ Credentialing is the most economical and efficient way to solve their credentialing needs. We have the training, expertise and commitment it takes to keep a complex process moving forward at all times.
1ˢᵗ Credentialing supports healthcare practices of all sizes - from health systems, to community hospitals, to large group practices, to smaller organizations. We help get your providers up and practicing as fast as possible.
Learning more about the credentialing process benefits us and our clients. 1ˢᵗ Credentialing offers regular videos and newsletter updates to bring our clients and those interested in innovations in credentialing up to speed.
Making a change in your practice’s banking arrangements can really be a hassle. You have to account for all the transactions that go into the account as well as those that come out, and prepare to do all those transactions with the new account. Some of these are payroll, automatic transfers or payments and debit card transactions.
Don’t forget direct deposit payments from insurers with which you are enrolled!
Reporting Banking Changes to Medicare and Medicaid
For Medicare and Medicaid, The Centers for Medicare & Medicaid Services (CMS) requires that, once you are initially enrolled, you must report certain changes – reportable events – to your Medicare administrative coordinator within 30 days. The applicable events include banking arrangement changes as well as changes to practice location, ownership, general supervision and final adverse actions. You have 90 days for other changes to your enrollment application.
It is critical that you report changes on a timely basis. Not reporting the abovementioned changes may affect claims processing, claims payment or even your ability to participate in Medicare.
It’s easiest to report changes to banking arrangements via the PECOS system. You can also use the applicable Medicare Enrollment Application Form CMS-855.
Reporting Banking Changes to Other Insurers
Notify each commercial carrier of the banking change. You can use their online portals to make the change via their electronic data interchange (EDI) provider, or contact the carrier directly to ensure that the payments are moved to the correct bank. Tell them the effective date and include a new voided check or a bank letter. Be sure to update all payers that make direct deposits.
Whether you report the change to CMS or to other insurer, keep your old account open during the update period. It’s a good idea to be prepared to handle paper checks during the transition, as it typically takes 45-60 days for electronic funds transfer updates.
Let Us Manage All Your Payer Enrollment Services
If you require medical credentialingand payer enrollmentneeds for your practice or medical facility, please contact1st Assistant.Our experienced and dedicated specialists will provide all credentialing and enrollment services quickly and will monitor your account for ongoing updates and re-attestations. Heidi Henderson, our company owner and President, is eager to meet you and discuss your payer enrollment needs. Please call us at 512.201.2668 or contact us via the website.
Our credentialing experts are here to help you assess exactly which solutions you need and let you know how inexpensively we could put you on the right track. 1ˢᵗ Credentialing includes primary source verification and payor enrollment for all insurance networks including Medicare, Medicaid, Medi-Cal and insurance networks. Don’t wait another minute, contact our terrific team today!