Breaking Contract with Insurance Companies?

[trixter888]

Long story short. I joined a practice that is in the process of credentialing me. I have only been approved for several insurance companies. The practice utilized a credentialing company to get me started.

I now am considering starting my own practice and leaving the current practice. I was told in the beginning from the credentialing agency that they would not be using my individual NPI, but instead the group's NPI number. I however have found out that Cigna and Medicare do not care which NPI was used, as they "contract" with each provider.

I was informed that the contract with Cigna was signed, however the status has not been "officially approved" because they are waiting on my some other papers I need to submit.

I am wondering, how easy is it for me to opt out of my current contracts with these insurance companies, so that I can independently start my own practice (cash only)? The only insurance I will take at this time is Medicare, because I don't want to fully opt-out at this time.

Can anyone provide any clarity?

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[Old&InTheWay]

I don't understand why you would not be able to start a cash only practice even if you had contracts with insurers. What do these contracts say?

 

[TexasPhysician]

Most commercial contracts are location specific

 

[trixter888]

Most commercial contracts are location specific

Yah so I’ve heard. Main concern is Cigna.

Also Medicare contracts through several companies like United. If I stay opted in to “Medicare” does it mean I’m often into there different subtypes as Medicare as well? If so, it would be weird because I have to complete credentialing with each.