§  2996.  Study  of  physician  credentialing. 1. The department shall  examine  the feasibility of establishing a clearinghouse for  credentialing  information  to reduce the burden for physicians required  to submit credentials to entities licensed and regulated by  the  state.  As part of such examination, the department shall: (a)  examine  the  efficacy of the credentialing process prescribed by  section twenty-eight hundred five-j of this chapter; (b) determine which methods of organizing such  a  clearinghouse  with  standardized  data  in  a  standardized format will provide the greatest  usability and convenience to  health  care  providers  and  health  care  plans; (c)  identify  the  most  appropriate  entity  to  administer  such  a  clearinghouse, and verify collected credential information; and (d)  identify  safeguards  to  protect  the privacy of providers  participating in such a credentialing system. 2.  The  department  shall  provide  a  report  of  its  findings  and  recommendations to the governor and legislature within  eighteen  months  of the effective date of this section.