Economic credentialing
Economic Credentialing
Economic credentialing (pronunciation: /ɪˌkɒnəˈmɪk ˌkrɛdɪnʃəlɪŋ/) is a term used in the healthcare industry to describe the practice of using economic factors to determine the eligibility of a healthcare provider for medical staff privileges.
Etymology
The term "economic credentialing" is derived from the words "economic", which refers to the branch of knowledge concerned with the production, consumption, and transfer of wealth, and "credentialing", which refers to the process of establishing the qualifications of licensed professionals, and assessing their background and legitimacy.
Overview
Economic credentialing is a controversial practice in the medical field. It involves the use of economic criteria, such as the volume of referrals or the cost-effectiveness of treatment methods, to determine whether a healthcare provider should be granted privileges to practice in a particular hospital or healthcare facility. This practice is often used as a means of controlling costs and ensuring the financial viability of the healthcare facility.
Related Terms
- Medical Staff Privileges: The rights granted to a healthcare provider by a hospital or healthcare facility to provide patient care.
- Healthcare Industry: The range of companies and non-profit organizations that provide medical services, manufacture medical equipment or drugs, provide medical insurance, or otherwise facilitate the provision of healthcare to patients.
- Hospital: An institution providing medical and surgical treatment and nursing care for sick or injured people.
Controversy
Critics of economic credentialing argue that it prioritizes financial considerations over patient care and can lead to conflicts of interest. Supporters, however, argue that it is a necessary tool for managing healthcare costs and ensuring the sustainability of healthcare facilities.
See Also
External links
- Medical encyclopedia article on Economic credentialing
- Wikipedia's article - Economic credentialing
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