Why Is Patient Eligibility Verification Essential?
When patient insurance eligibility is not verified, it may create various problems such as claim rejection, need for reworking and much more. A professional company is well aware of all these needs and so, reliable insurance verification services are provided to firms and practices of all sizes. To meet the demands ideally, they have skilled insurance verification specialists and trained staff. Patients are interviewed and all the paperwork that is needed for the process of verification is completed.
The details that are verified include:
- Details of the patients
- Payable benefits
- Co-insurance details
- Co-pays
- Deductibles
- Pre-authorization number
- Effective date
- Status of the patient policy
- Type of plan
- Coverage details
- Claims mailing address
- Plan exclusions
Professional outsourcing companies complete the process in simple steps:
- The schedules of patients are received
- The insurance coverage of each patient is verified
- If required, the patients are contacted
- The billing system is updated with verification and eligibility details
Benefits of Patient Eligibility Verification Services
- Reduction in claim denials and rejections
- Improvement in patient care
- Reduction in lost revenue and improved collections
- Reduction in the time spent in follow-ups
- Greater efficiency
- Greater patient satisfaction
- Clean claims are increased
- Approximately 40 percent of the operational costs are saved
Why Seek Insurance Verification Services
When these services are sought, real time and accurate validation of the benefit coverage level of a patient’s insurance is provided. This task is handled by eligibility verification experts who work closely with insurance providers to identify the insurance coverage of patients clearly. They also check whether the financial obligations are correct and valid. They make sure that the records of the provider are matching the information given by the patients.