Credentialing enters your practice into a formal contract with a dental insurance provider in order to be considered “in-network” for that insurance company and their policyholders.
Here are three reasons why insurance credentialing is so important to your business.
1. Credentialing Can Bring New Patients to Your Practice
You might see an influx of new patients simply by being added to the provider list for insurance companies. When you're credentialed with an insurance provider — especially if it's a popular provider for your area — your services are more affordable and accessible to the patients who need them.
While the process of getting credentialed takes time, it can be a worthwhile effort for growing your practice.
2. Credentialing Can Expand Your Dental Practice’s Marketing Strategy
Insurance companies profit from patient co-pays and other fees. Therefore, they want to make sure the providers they work with are successful. In addition to the value of opening up a new pool of potential incoming patients, credentialing may also provide your practice with visibility through the insurance company.
For example, patients might see the name of your dental practice as one that’s endorsed by their insurance company, or on a comprehensive list of preferred in-network service providers. This tangential marketing not only expands your owned strategy but could translate to patients feeling more inclined to consider you since they know their insurance plan will cover your services.
3. Credentialing Gives Patients Confidence in Your Practice
Credentialing in and of itself acts like a vote of confidence from the insurance provider. By partnering with you, an insurance company is inherently stating that it trusts you to provide its policyholders with quality treatment.
Credentialing is often a lengthy, detailed process because of that underlying implication. After all, insurance companies that credential you are attaching their brand to your practice. In order for them to feel comfortable in solidifying that partnership, they need to see that you follow proper procedures.
The credentialing process benefits new dental practices that are still looking to establish a base of recurring patients.
Grow Your Practice with A Robust Patient List
At Treloar & Heisel, we understand your patients drive your practice’s success, which is why we created our Ebook, “Strategies To Grow Your Dental Practice Patient List.”
In addition to getting credentialed by insurance companies, there are a number of ways to grow your practice’s patient list, including by:
- Developing and targeting your target ideal patient type.
- Build your digital presence.
- Earning and utilizing patient reviews.
Access the full Ebook today to learn more ways for growing your patient list and improving your dental practice.