Company Launches Financial Intermediary for Doctors

Facing critical shortages of doctors and nurses, startup Medallion launched a new financial intermediary to ease the administrative burden on physicians, Danielle Chemtob reported for Forbes Daily.

Five of the nation’s 10 largest health plans are reportedly considering joining CredAlliance.

The service, called CredAlliance, aims to streamline credentialing—a process requiring insurers to verify physicians’ qualifications before they can practice, which costs the industry more than $1 billion annually.

Doctors can only practice in states where they are licensed, and each insurer must independently verify their credentials.