Healthcare leaders can improve the safety and security of their patients and staff by implementing a comprehensive credentialing program that ensures all employees and commercial visitors participate in best practices and system policies. A comprehensive credentialing management program not only provides a safe environment, but also dramatically reduces the hospital’s direct costs and potential risks. Tracking and managing credentials to meet regulatory requirements can mean high administrative costs for hospitals. However, failure to manage these processes leaves patients and employees at greater health and safety risk, while also exposing hospitals to major financial risks. Adverse events, business disruptions and opportunity costs can all be traced back to noncompliance. Upon closer examination, while the cost of credentialing is significant, the cost of NOT credentialing is now estimated to be five times as great.
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