1. Insurance Verification Services
Help Practices Increase Revenue
Insurance eligibility verification
is a necessary step in the medical
billing process. There are many
reasons that make health
insurance verification services
a necessity. In order to avoid
claim rejection, each healthcare
provider has to verify the
insurance eligibility and
coverage benefits of the patients,
before the patient is provided
medical services. Or else, it might lead to problems such as delayed
payments, increased errors, need for rework, non-payment of claims, patient
dissatisfaction and more.
The Process of Medical Eligibility
Verification Services
The insurance eligibility verification process involves many steps.
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2. • Receiving patient schedules from the hospital or clinics via FTP,
email or fax
• Verifying patients' insurance coverage on all primary and secondary
(if applicable) payers
• Verifying demographic information
• Updating patient accounts
• Contacting patients for additional information if necessary
• Updating the billing system with eligibility and benefits details such
as member ID, group ID, coverage start and end dates, co-pay
information and much more.
Outsourcing insurance verification services may be a great solution for
healthcare providers looking to minimize delays and increase revenue.
Insurance verification services play an essential role in the revenue cycle.
Here are some of the other reasons why outsourcing insurance verification
services may be a great solution for healthcare providers.
• Cost-effectiveness
• Reduced number of returned claims
• Faster billing cycles
• Reduced operational costs
• Minimize delays and denials considerably
• Improve payment and collections
• Save time by letting verification specialists do the work more
efficiently
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3. • Improved staff productivity
• Streamlined billing procedures
• Free up staff to focus on more productive tasks
• Reduce your risk factors
• Reduced rework of claims
• Expand company focus
• Speed up approval and authorization
• Simplified workflow
Insurance Verification Specialists Can Help
A health insurance verification specialist, also called insurance verifier,
plays a big role in the health insurance system. These professionals have
extensive knowledge of insurance, healthcare terminology, and
medical/surgical techniques. They work with patients, check with the
insurance company regarding any policy changes, do all the paperwork, and
verify patient information with the insurance carrier to maximize
reimbursement and facilitate revenue cycle improvement. The insurance
eligibility verification service includes verification of:
• Payable benefits
• Co-pays
• Co-insurances
• Deductibles
• Patient policy status
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4. • Effective date
• Type of plan and coverage details
• Plan exclusions
• Claims mailing address
• Referrals & pre-authorizations
• Life time maximum and more.
A reliable outsourcing company will have on staff trained and experienced
insurance verification professionals to offer services. Find a medical process
outsourcing company that has been providing services in this field, check out
their service terms and plans, and if you feel comfortable working with
them, request for their services.
For More Information:
OutSource Strategies International
United States Main Office
8596 E. 101st Street, Suite H
Tulsa, OK 74133
Phone 800-670-2809
http://www.outsourcestrategies.com
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