Medical insurance verification is the method of confirming that a patient is covered within a health insurance plan. If insurance details and demographic data is not properly checked, it can disrupt the money flow of your practice by delaying or affecting reimbursement. Therefore, it is recommended to assign this task to a professional service provider. Here’s how insurance verification services help medical practices.
Gains from Competent Insurance Eligibility Verification Services. All healthcare practices try to find evidence of insurance when patients sign up for appointments. The procedure needs to be completed just before patient appointments. In addition to capturing and verifying demographic and insurance information, employees in a healthcare practice must perform a range of tasks including datalinkms.com: Datalink MS Medical Billing Solutions » Insurance Eligibility Verification, accounting, mailing out 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 insurance verification to competent businesses that offer comprehensive support services like:
Receipt of patient schedules from the hospital or clinic via FTP, fax or e-mail. • Verification of important information such as the patient name, name of insured person, relationship towards the patient, relevant cell phone numbers, date of birth, 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, and so forth.
Healthcare practices have to handle medical eligibility verification of the patient to make certain that the assistance provided are covered. The majority of the medical practices do not possess lots of time to carry out the difficult procedure of insurance eligibility verification. Providers of insurance verification and authorization services can help medical practices to devote enough time to their core business activities. So, seeking the assistance of an insurance verification specialist or insurance verifier can be quite helpful in connection with this.
A dependable and highly proficient verification and authorization specialist will work with patients and providers to ensure medical insurance coverage. They will likely also provide complete support to acquire pre-certification and/or prior authorizations.
Insurance providers continuously make changes in their health insurance plan. So, medical insurance verification services are becoming absolutely essential in the medical billing process to confirm whether or not the patient is included underneath the new plan to help achieve maximum benefits of insurance. Lack of proper eligibility can result in problems such as delayed payments, increased errors, need for rework, non-payment of claims, and patient dissatisfaction.
So in order 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, type of xcorrq and coverage details, plan exclusions, claims mailing address, referrals and pre-authorizations, lifetime maximum and more.
A few 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 you have a problem with coverage or authorization, and Medicaid enrollment
In short, insurance eligibility verification minimizes the likelihood of denial of your claims by scrutinizing the eligibility and advantages of the patient before the services are delivered. A lesser variety of denials means a better quantity of clean claims, meaning improved collections, and better cash inflow.
Insurance Verification Services – Outsource Strategies International (OSI), a leading medical billing company in the US, provides efficient medical insurance verification services.