Health insurance verification is the method of confirming that a patient is covered under a medical insurance plan. If insurance details and demographic details are not properly checked, it can disrupt the cash flow of your practice by delaying or affecting reimbursement. Therefore, it is recommended to assign this task to a professional provider. Here is how insurance verification services help medical practices.
Gains from Competent Insurance Eligibility Verification Services. All healthcare practices look for proof of insurance when patients register for appointments. This process needs to be completed prior to patient appointments. As well as capturing and verifying demographic and insurance information, employees in a healthcare practice has to perform an array of tasks like www.datalinkms.com Datalink MS Medical Billing Solutions » Insurance Eligibility Verification, accounting, sending out of patient statements and prepare patient files Acquiring, checking and providing all patient insurance information requires great attention to detail, and it is very hard in a busy practice. Therefore more and more healthcare establishments are outsourcing medical health insurance verification to competent companies that offer comprehensive support services including:
Receipt of patient schedules from the hospital or clinic via FTP, fax or e-mail. • Verification of all the necessary information like 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, and so on.
Healthcare practices have to carry out medical eligibility verification of a patient to make sure that the assistance provided are covered. The majority of the medical practices do not have enough time to execute the difficult procedure for 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 aid of an insurance verification specialist or insurance verifier can be very helpful in this regard.
A trusted and highly proficient verification and authorization specialist works with patients and providers to ensure medical insurance coverage. They will likely offer complete support to acquire pre-certification or prior authorizations.
Insurance firms continuously make changes in their own health insurance policy. So, medical insurance verification services have become a necessity in the medical billing process to verify whether the patient is covered underneath the new intend to help achieve maximum advantages of insurance. Absence of proper eligibility can result in problems such as delayed payments, increased errors, requirement 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, form of xcorrq and coverage details, plan exclusions, claims mailing address, referrals and pre-authorizations, life time maximum and much more.
Some of the services that insurance verification specialists can provide 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 a problem with coverage or authorization, and Medicaid enrollment
To put it briefly, insurance eligibility verification minimizes the probability of denial of your own claims by scrutinizing the eligibility and benefits of the individual before the services are delivered. A lesser variety of denials means a larger variety of clean claims, which suggests improved collections, and better cash inflow.
Insurance Verification Services – Outsource Strategies International (OSI), a leading medical billing company in the US, provides efficient medical health insurance verification services.