Insurance Eligibility
At Med eBilling, we acknowledge the fact that insurance eligibility verification is an important stage in the medical billing process. Insurance eligibility verification also ensures that healthcare professionals are remunerated for their services without delays or inaccuracy and eliminates the chances of claim denials. Therefore, the scope of work and our comprehensive insurance eligibility verification services has its intention to ease the process, minimize the workload and enhance the income of your practice.
What is Insurance Eligibility Verification?
Insurance eligibility verification or clearance is the asking of a patient’s insurance plan for benefits coverage, limits, and possible out of pocket requirements prior to rendering services. This verification assesses whether the patient’s coverage is in force and identifies services covered as well as out of pocket expenses (e.g., co-pay, deductible) evaluation. By verifying that accurate coverage information is maintained in the systems, we assist healthcare providers in preventing expensive billing mistakes as well as claim rejections.
Why is Insurance Eligibility Important?
There are various reasons why it is quite important to carry out accurate insurance eligibility verification. First, it minimizes claim denials. Eligibility check performed before any services are undertaken goes a long way in averting unnecessary losses through claim rejections because of coverage complications among other reasons. Second, it speeds up reimbursements. Upfront confirmation of patient eligibility tend to enhance the speed of process of claims thus making reimbursements faster as well. Third, it enhances cash flow. Less denials of claims and less delays in payment translates to better cash flow for the practice therefore aiding in controlling the finances of the practice. Fourth, Better Patient Experience. Allowing patients to know their coverage and co-payment amounts tend to improve their experience by eliminating any frustration. Our Insurance Eligibility Verification Process Our team makes every effort to adopt contemporary techniques and professional ways of working to make sure that your patients' insurance data is current and maintained. Our process works through the following steps.
Our process works through the following steps.
01
Collection of Patient Details
We obtain information from the patient including but not limited to insurance cards and other personal information.
02
Verification of Coverage
Patient insurance coverage, benefits, co-payments, deductibles, and limitations are verified.
03
Preauthorization or Referral
We ascertain situations when certain services are omitted without the issuance of a go-ahead from the insurer in advance
04
Record Updates
We ensure insurance details in the software are accurate to prevent future issues.
Advantages of Our Insurance Eligibility Verification Services
- Swift and Exact Verification: The department makes it a point that every eligibility check is carried out correctly and within the time limits in order to minimize or avoid mistakes and inconsistencies.
- Heightened Successful Claims Ratio: By dealing with eligibility matters at the onset, we help to shield you from unnecessary delays while dealing with the acceptance and processing of your claims.
- Affordable Methods: In cases where there are minimal made claims and redoing of work, our services contribute to the lower operational costs and help to save time.
- Enhanced Revenue for Practice: Quick collection of payments and minimal constant disallowance improves revenue cycle management and subsequently good financial performance for the practice.
- Patient Transparency: Patients are made aware of their benefit entitlement so that there are no shock moments on individual contribution.
Why Choose Med eBilling?
- • Knowledgeability: Having worked for many years in the field of medical billing, we focus on insuring eligibility verification services for numerous insurance companies and plans.
- • Technologically Advanced Solutions: We utilize high-end tools and software in order to simplify the process of verification and enhance the level of accuracy and efficiency.
- • Commitment: Our experienced staff is ready to assist your office with any problems or queries which concern insurance eligibility at any time.
- • Customization: We offer our services on the best way possible to your practice so as to avoid interruptions in your normal procedures.