Medical insurance verification is the process of confirming that the patient is covered within a health insurance plan. If insurance details and demographic facts are improperly checked, it can disrupt the cash flow of your practice by delaying or affecting reimbursement. Therefore, it is best to assign this to a professional service provider. Here is how insurance verification services help medical practices.
Gains from Competent Insurance Eligibility Verification Services. All healthcare practices search for evidence of insurance when patients sign up for appointments. The process has to be completed just before patient appointments. Along with capturing and verifying demographic and insurance information, employees in a healthcare practice needs to perform an array of tasks such as datalinkms.com – Datalink MS Medical Billing Solutions » Insurance Eligibility Verification, accounting, broadcasting of patient statements and prepare patient files Acquiring, checking and providing all patient insurance information requires great focus on detail, and is also very hard in a busy practice. Therefore increasingly more healthcare establishments are outsourcing medical health insurance verification to competent companies that offer comprehensive support services including:
Receipt of patient schedules from your hospital or clinic via FTP, fax or e-mail. • Verification of all necessary information such as the patient name, name of insured person, relationship to the patient, relevant telephone numbers, birth date, Social Security number, chief complaint, name of treating physician, date of service,, kind of plan (HMO or POS), policy number and effective date, policy coverage, claim mailing address, etc.
Healthcare practices have to handle medical eligibility verification of the patient to make certain that the assistance provided are covered. Most of the medical practices do not have plenty of time to perform the difficult process of insurance eligibility verification. Providers of insurance verification and authorization services may help medical practices to devote ample time to their core business activities. So, seeking the assistance of an insurance verification specialist or insurance verifier can be extremely helpful in this regard.
A reliable and highly proficient verification and authorization specialist works with patients and providers to confirm health care insurance coverage. They will offer complete support to acquire pre-certification and prior authorizations.
Insurance firms continuously make alterations in their health insurance coverage. So, medical health insurance verification services are becoming absolutely essential within the medical billing process to confirm whether or not the patient is protected under the new plan to help achieve maximum benefits associated with insurance. Insufficient proper eligibility can lead to problems like delayed payments, increased errors, necessity for rework, non-payment of claims, and patient dissatisfaction.
So to be able to minimize delays and improve collections, many healthcare organizations have started outsourcing their insurance eligibility verification tasks. Insurance verification services ensure substantiation of payable benefits, patient details, pre-authorization number, co-pays, co-insurance details, deductibles, patient policy status, effective date, kind of xcorrq and coverage details, plan exclusions, claims mailing address, referrals and pre-authorizations, lifetime maximum and much more.
A number of the services that insurance verification specialists can offer include assistance to obtain pre- authorization number, provision of reminders to patient about POS collection requirements, obtaining referral from PCP, informing client if there is an issue with coverage or authorization, and Medicaid enrollment
In short, insurance eligibility verification minimizes the likelihood of denial of your own claims by scrutinizing the eligibility and benefits associated with the individual prior to the services are delivered. A lesser number of denials means a larger quantity of clean claims, which means improved collections, and better cash inflow.
Insurance Verification Services – Outsource Strategies International (OSI), a leading medical billing company in america, provides efficient medical insurance verification services.