CAQH Announces Important Changes to VeriFide Credentialing System
The Council for Affordable Quality Healthcare (CAQH) recently announced changes to its VeriFide™ system. VeriFide is an automated solution that verifies the completeness and accuracy of credentialing information that is submitted to health plans by healthcare providers.
In 2019, health plans will be able to check the credentialing status of each provider in “real-time” as it moves through the verification process. By being able to track a provider’s status, health plans will know when credentials will be verified and when the provider can be added to the network. In the CAQH December 13, 2018 announcement, Tarun Theogaraj, Senior Product Manager for CAQH calls the enhanced tracking functionality a “game changer.”
How the New VeriFide Functionality Will Work
The new VeriFide process will include a self-service portal which providers can use to monitor the primary source verification process. The enhancement addresses long-standing problems where customers had no way of knowing how their orders were progressing. The portal will display a management dashboard with both summary charges and detailed information on individual providers.
CAQH guarantees that the VeriFide solution will return 98% of initial files within 14 days at an accuracy and completeness rate of 98.5%.
VeriFide benefits both providers and health plans. For providers and practice managers, the solution allows them to participate in a plan network and receive payment for services more quickly. The process is also beneficial to health plans as it is faster, less costly and more accurate than other methods and avoids the necessity to track down primary data sources.
You can read more about CAQH in our earlier blog.
Let Us Manage All Your Payer Enrollment Services
If you require medical credentialing and payer enrollment needs for your practice or medical facility, please contact 1st 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.