The CVS is a subsidiary of NU’s institutions. An independent, policy-driven Management Board, appointed on the recommendation of the Vice-Presidents, Academic, and the Committee of Presidents, supervises the CVS to ensure program consistency and quality across the institution system. Senior staff at NU institutions oversee the CVS on a daily basis. The Management Board is comprised of Senior Academic Officers and Curriculum and Instructional Design Subject Matter Experts from the Institutions.
The CVS is consistent with the Binding Policy Directive, Framework for Instructional Programs, of the Council of Training, Colleges, and Universities. This service, along with the Institution Board of Governors’ approval of programs, is a component of the institution system’s self-regulatory mechanism. The CVS’s mandate, as stated in the Binding Policy Directive, is to:
provide reasonable assurance that all postsecondary programs of instruction leading to one of the NU Institution Credentials (Certificate, Diploma, Advanced Diploma, or Graduate Certificate), regardless of funding source, adhere to the Credentials Framework and follow accepted college system nomenclature/program titling principles; and maintain the integrity of the system’s credentials and safeguard the interests of students and employers who require a reasonable assurance of consistency and quality in postsecondary instruction offered by NU’s institutions of applied arts and technology.
The process of physician credentialing serves several purposes. Credentialing ensures the medical industry’s quality of care by ensuring that all physicians adhere to the standard of care and provide the clinical services for which they are qualified. This protects not only the patient’s safety, but also the medical community, by ensuring that only physicians with the knowledge and skills to perform specific procedures are permitted to practice on insured patients.
Credentialing also ensures that medical practices receive proper reimbursements and timely payments from their contracted third-party payers. Credentialed medical practices can increase the number of patients who have access to them, thereby increasing their revenue streams. Medical credentialing is essential for successful medical practices due to easier payment methods and larger patient pools.
As previously stated, the medical credentialing process ensures quality assurance in the healthcare field. It is a review method for the medical industry that helps to ensure that quality standards in the medical community are consistently met for the sake of patients. In order to keep costs low, insurance companies prefer to priorities medical physicians and practices who have demonstrated competence in their fields.
Credentialing protects patient safety by ensuring that practices and physicians have the necessary experience and skills to perform procedures on patients. The procedure helps to reduce the likelihood of medical errors caused by incompetent providers. Credentialing, with all of this background knowledge, aids in the restoration of trust between patients and medical practices. Patients who know their physicians have the qualifications and merit to be their preferred providers can put their full trust in their abilities.
Proper credentialing can save medical practices thousands of dollars in revenue lost due to delayed or denied reimbursements. Failure to obtain proper credentialing or errors in the process can lead to insurance payers refusing to reimburse medical practices for their treatments. If a medical practice allows a physician to provide services prior to or during the credentialing process, the insurance payer may be able to backdate reimbursement to cover the treatments.
Physician credentialing grants medical practices access to previously inaccessible patient bases by allowing practices to accept paints covered by health insurance. The vast majority of Americans have health insurance plans; 92 percent of Americans had health insurance coverage in 2019. This enables medical practices to expand their clientele and potentially increase their revenue stream.
More patients than ever before are conducting research on healthcare practices and physicians before making a commitment to them. This could include looking into their background or reading patient reviews online. Medical credentialing is one of the most effective ways to improve your online reputation. When potential patients conduct research on your medical practice, seeing credentials indicates that your practice is merited, reputable, and trustworthy.
When a physician credentialing starts, they must go through a rigorous examination process that looks at their residential history, educational background, work experience, and any other qualifications. If your medical practice is hiring a medical practitioner who must be credentialed, this process can determine whether or not they are qualified to perform the job description tasks.
In the highly competitive world of healthcare, medical practices must find ways to differentiate themselves from the competition. Medical credentialing demonstrates to potential new patients that your medical practice employs physicians who are experts in their field. Furthermore, being credentialed can help you attract well-qualified physicians, who are more likely to join a credentialed practice with a larger patient base than one that is not. The medical credentialing process gives your medical practice an advantage over competitors in your market and allows you to continue growing.