Outsourcing Health Insurance Verification – Reduced Rejections and Denials
Outsourcing health insurance verification ensures reduced rejections and denials. The only way to ensure insurance claims are not rejected or denied is to make your billing and coding perfect, have an in-depth knowledge of how the insurance company works, and verify the entire insurance plan and process. By outsourcing health insurance verification to a reliable company this can be ensured, which can help doctors and healthcare concerns save much.
Insurance verification services provided by a reliable medical billing company will ensure all requirements of the payer are met, and remove all factors from your claims submission which could result in last minute cancellations. Follow-ups will be completed and sent immediately to the insurance provider. In case of denials, the billing company will get the issues sorted out and keep contact with the insurance company to communicate about missing information, appeals, and related aspects. Insurance eligibility verification is offered for scheduled appointments way ahead of the patient appointment date.
Comprehensive Verification Services
Insurance verification services include:
- Verifying all patients’ benefits before submitting to payers for approval
- Using fax, email or FTP for receiving patient schedules from the healthcare center or hospital
- Verifying with the insurance provider various aspects of patient information such as payable benefits, co-pays, co-insurances, deductibles, patient policy status, effective date, type of plan and coverage details, plan exclusions, claims mailing address, referrals and pre-authorizations, and life time maximum
- Verifying patients’ insurance coverage on all primary and secondary payers
- Keeping updated patient accounts
- Carrying out patient communication and completing the required paperwork
- Updating new benefits to the insurance system
- Completing authorization forms and criteria sheets
- Keeping in touch with the insurance agency to ensure approval for your authorization request.
Advantages of Outsourcing Insurance Verification
The benefits of health insurance verification services provided by a medical billing company include:
- Quick approval
- Workflow simplified
- Chances of risk reduced
- Reduced returned claims
- Quicker billing cycles
- Less delays
- Improved collections and payments
By outsourcing health insurance verification, your healthcare practice can save much on resources. You can reduce your workforce and save a lot on their salaries. When there are employees you’ve obviously got to think about their benefits, Workers’ Compensation, and other such details. There are management costs too when you handle these non-core responsibilities in-house.
Finally, there is a greater risk of things going wrong when you strain workforce and resources. In the case of insurance claims, this could result in denial or even rejection, keeping you from getting what you’re supposed to get for the treatment you provide.
This way, outsourcing health insurance verification ensures reduced rejections and denials and helps the healthcare industry save more and use all its resources for better patient care.
About The Author
Outsource Strategies International (OSI) is one of the leading medical billing companies in Tulsa, Oklahoma area. Our cutting edge HIPAA-compliant technologies, web based software, trained staff and strict quality control processes ensure timely and efficient medical billing service.
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