It is well-known that healthcare companies are facing extreme pressures to reduce the cost of healthcare while also improving the quality of care for patients.
Insurance eligibility verification is one of the most important first steps in Revenue Cycle Management for Healthcare. Research confirms that most of the claims are denied or delayed due to incorrect coverage information. Insurance companies frequently make policy changes and updates in their health plans.
Therefore, it is vital for medical billing companies or providers to verify if the patient is covered under the new plan to help achieve maximum benefits of insurance eligibility verification. Confirming the insurance coverage facilitates acceptance of the claim on the first submission, whereas, non-verification leads to several discomforts like rework, decreased patient satisfaction and increased errors other than causing delays and denials.
At InfoScribe we understand the importance of eligibility verification
- We reduce delays and denials
- We enhance collections.
Insurance verification process of InfoScribe
- Provider’s office scans the copy of Insurance ID cards and updates patient demographics and forward the same.
- Our verification department calls the insurance company and checks the member's eligibility and coverage.
- Verification department documents all relevant information such as copay,coverage period, deductibles etc in forms/portals.