Insurance verification services deal with checking and evaluating patient’s medical coverage details, verifying his or her eligibility to obtain insurance claims. This, of course, is a time-consuming and tedious task. Hiring the services of an outsourcing medical billing company is a viable alternative to doing it at home.
Steps involved in Insurance Verification Process
• Collecting patient’s records from hospitals through email or fax
• Conducting patient eligibility verification
• Evaluating patient’s insurance coverage on the various aspects
• Get in touch with patient for having additional information
• Updating billing system with eligibility and verification details such as member ID, starting and ending of insurance coverage period, group ID, co-pay information and more.
Benefits of Outsourcing Medical Insurance Verification
By outsourcing the insurance verification job to some reliable medical billing company, the healthcare provider can enjoy these benefits:
• Save time: Professional service providers have speedy technological solutions to complete the insurance verification job in quick turnaround time.
• Experienced staff: Most reliable billing companies have expert staffs well versed with medical terminologies. They have extensive knowledge in insurance processes and are able to produce 99 percent accurate medical billing services. So healthcare organizations can reduce the number of rejected claims.
• Quality of service: Most professional firms have three levels of quality checks for ensuring utmost accuracy to insurance verification. They keep a team of experts such as insurance verifier, proof readers and quality analysts.
• Maximize reimbursement and minimize denials: Insurance verification specialists in the billing company play a significant role in healthcare insurance process. These experts work with patients, collect details and complete all the paper works for reimbursement process. They verify patient information with insurance companies to provide maximum reimbursement for patents and minimize denials.
• Cost-effective: Most professional billing companies offer their clients a cost saving of 30 to 40 percent lower than market rates.
Hire the Best Medical Billing Company for Insurance Verification Process
A single error in medical insurance verification can result in claim rejection and denial. So, it is imperative that you find an ideal billing company for doing the verification services. Browse the Internet with refined search options to locate your service provider. Some companies offer Free Trial for their services. Don’t hesitate to avail such offers to evaluate their services for yourself.