A professional medical billing company offers insurance verification services as part of its comprehensive service package. Verifying patients’ insurance coverage ensures prompt and accurate reimbursement. Outsourcing health insurance verification has become the norm in most busy medical practices and hospitals. A competent service provider can help its clients avoid financial losses cause by patient ineligibility. Performing such verification in-house would also take up a lot of time, as much as 15 minutes per patient according to surveys. As medical billing companies have an expert team on the job, the chances of errors are also minimized. Payment collections can be significantly improved with accurate authentication of co-pays/deductible information.
Comprehensive Checks of Patient Coverage
Insurance verification services ensure confirmation of payable benefits, patient details, pre-authorization number, co-pays, co-insurance details, deductibles, patient policy status, effective date, type of plan and coverage details, plan exclusions, claims mailing address, referrals and pre-authorizations, life time maximum and more. The patient’s insurance details are obtained by calling the insurer or via online verification. Eligibility verification specialists can also help with
- reminding patients of POS collection requirements
- obtaining referrals from PCPs
- informing client if there is an issue with coverage or authorization
- Medicaid enrollment
These cross-checks validate patient eligibility so that claims are not rejected due to inadequacy or inaccuracy of information. The right medical billing company would offer the following services as part of its health insurance verification services
- Receipt of schedules from the hospital (Via FTP, Fax or E-mail)
- Verification of coverage on all primary and secondary payers
- Contacting patients for additional information if required
- Providing the client with the results, including eligibility and benefits information such as member ID, group ID, coverage end and start dates, co-pay information and much more.
- Entering and updating patient demographics
Well-equipped to Provide Quality Insurance Verification
Outsourcing medical billing services to an established medical billing company has made billing and insurance verification much simpler for healthcare service providers. A reliable and experienced medical billing company would a pool of skilled professionals on board. The team would include medical billing experts, AAPC certified medical coders, and a dedicated eligibility verification specialists. Working with advanced technology, this team can ensure that your medical claims are processed accurately, efficiently and quickly.
Hiring a professional outsourcing company to handle your insurance verification tasks offers many benefits: reduced effort and time, speed up approval and authorization; simplified workflow; faster billing cycles; improved staff productivity, reduced operational costs, and reduces your risk factors. Efficient insurance verification services help streamline the billing process, minimizes delays considerably, improves payment and collections, speeds up billing cycles, and frees up the healthcare facility’s workforce to focus on more productive tasks.