Getting on Insurance Panels: A Step-by-Step Guide for Physical Therapists
Getting on insurance panels (i.e., becoming a preferred provider with an insurance company) can be an onerous and time consuming process, typically taking 2-6 months. Physical therapists have the option to go through the process on their own, or they can pay a consultant to get them credentialed. Paying a consultant usually costs ~$250+ per provider per panel.
This guide is meant to walk you through the key steps of getting on insurance panels so that you can decide if you want to handle the process yourself or if you’d like to pay a consultant or agency to handle the process for you.
Step 1: Decide which insurance panels to apply to
Since insurance companies are very regional, it’s important to understand your area before deciding which insurance panels to apply to. For example, if you live in an area with a lot of active military personnel or veterans, TRICARE may be a good option for you. A good start may be to get recommendations from other physical therapists in your area. You’ll want to learn more about their experiences working with various insurance company (e.g., Does this insurance company make payments on time? If there’s an issue with a claim are they responsive and helpful?).
Step 2: Get your information together
Each insurance company will have its own application but by and large, the information requested is similar.
Here’s a good place to start:
Credentials
Date of birth
Place of birth
SSN
Home address
Personal phone number
Personal email address
NPI 1
Specialty
Ever known by any other names?
Adverse history information (if any)
Copy of current license
Copy of Professional Liability Certificate of Insurance
Copy of current resume
Step 3: Fill out the CAQH application
The Council for Affordable Quality Healthcare (CAQH) created a standardized application for healthcare providers. You can make a CAQH account here. After submitting the CAQH application, you’ll be asked to confirm that your information is up-to-date 2-4 times per year.
Step 4: Fill out the insurance panel application
Next, you’ll need to apply directly with the insurance company. This step is oftentimes broken out into 2 steps. First, the insurer may require you to fill out a preliminary survey. They may then respond to let you know whether the panel is open or closed. If the panel is open, the insurer will send you the full application. Other insurers may not require you to fill out the preliminary survey and you may be able to access the application directly on their websites.
If you are a PT interested in expanding your supplemental income by seeing patients over telehealth or if you are a PT interested in setting your own hours and being your own boss through an independent telehealth practice, please fill out the form below!
At Comet, we’ve been building a set of software tools to support independent physical therapists looking at setting up their own private practices. Our mission is to bring PT into the 21st century and increase modalities with which patients can seek and receive care.
