Insurance Eligibility Verification is a vital step in the cycle which refers to the process of reviewing and checking a patient’s insurance plan’s coverage.
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Outsourced Eligibility Verification Specialists provide effective and accurate patient record transcription, verify data entered from the claim form is accurate and complete to enable the claim to be processed correctly and accurately.
Eligibility verification specialists contact insurance providers to verify if a patient’s insurance coverage is eligible and active. They verify that the data entered from the claim form is accurate and complete to enable the claim to be processed correctly by insurance payers.
Aside from reviewing a patient’s insurance plan’s coverage and status, eligibility verification includes regular updating and monitoring of the patient’s basic information and electronic medical records, contacting of the payor, and identifying co-pays and deductibles.
They make follow-up telephone calls to maintain accurate records and ensure that medical record account entries are up to date.
Eligibility verification Specialists ensure timely & correct payment posting. By verifying insurance eligibility, they increase the number of clean claims and reducing billing errors and denials.
Benefits of Outsourcing Eligibility Verification
An important part of the entire revenue cycle management is Insurance Eligibility Verification.
Eligibility Verification refers to the process of reviewing and checking a patient’s insurance plan’s coverage. Aside from reviewing a patient’s insurance plan’s coverage and status, eligibility verification includes regular updating and monitoring of the patient’s basic information and electronic medical records, contacting of the payor, and identifying co-pays and deductibles.
Eligibility insurance verification is important in ensuring timely & correct payment posting, timely payments, increasing the number of clean claims and reducing billing errors, non-payments and denials.
Healthcare providers can increase efficiency and productivity by partnering with outsourcing providers that offer Healthcare outsourcing services.
Eligibility Verification Outsourcing Case Studies
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