Going in-network with insurance carriers is an essential part of running a successful business. For one, it allows you to get listed on providers’ lists, which gives patients access to your care and gives you more billable patients. In this post, we’ll explain why you should make time to go in-network with insurance carriers today and how it can benefit your practice!
More patients & referral partners will trust your services
First, you are more likely to be found by patients who are seeking your services. When you are in-network with insurance companies, you will show up on an insurance carrier’s provider list, giving your future patients a quick way to find your services (free marketing!),
Additionally, facilities in your area will want to refer more patients to you if you are in-network with insurance carriers. So not only will patients be able to find you on the insurance companies’ website, but other facilities will feel more comfortable referring patients to you if they know you’re in-network.
You’ll see more consistent revenue
In-network providers also enjoy financial advantages. There are a lot of insurance plans that don’t offer out-of-network coverage, so that eliminates the patient from coming to you entirely if you are not in-network and they can’t afford your services 100% out of pocket.
When you are in network with a patient’s insurance plan, you will be able to know how much you can bill for each service and whether you will be paid for providing services to them based on their coverage. This means that you will have a better idea of how much money you can expect to make from each patient as opposed to if they were out of network or if they didn’t have insurance at all.
You’ll have an advantageous relationship with insurance companies
Being in-network with insurance companies enables you to have your own representative from the insurance company that can answer any questions you have surrounding claims and reimbursements. This allows for much easier follow up if you haven’t been reimbursed what you think you should have been.
The longer you stay in-network with the same insurance company, the more likely it is that they’ll continue to negotiate rates with you and eventually increase those rates.
We hope we’ve been able to convince you that getting contracted with insurance carriers is a good idea. Not only will it allow you to get listed on the providers’ list and receive more billable patients, but it can also ensure you’ll get paid for your services. Investing the time and money in the credentialing process to become in-network also ensures that patients have access to the care they need when they need it most.