Insurance verification process

Get your Claims acknowledged on the first Submission 

Insurance verification process is the most critical and initial phase in medical billing and income cycle. According to industry experts, most of the claims are denied or delayed because of inadequate or incorrect coverage data given by patients amid visits and also because current coverage has not been updated by in-house clinic staff. Due to such lack of information regarding patient’s insurance verification, doctor’s tend to lose on reimbursements. This is where we at Insurance Verification Specialists come into play and offer our valued services to get the job done for doctor’s facility

What is the need and benefit of Insurance verification ?

Insurance agencies routinely roll out policy changes and rewrite their health plans. Along these lines, it is critical for medical billing organization or providers to check if patient is covered under new arrangement to get maximum repayment. Affirming healthcare coverage encourages acknowledgment of claim on first submission itself. While non-verified claims lead to several inconveniences like rework, decreased patient satisfaction, and distorts revenue cycle, increasing delayed and denial claims.

At Insurance Verification Specialists we understand the importance, Insurance verification can help Physicians facility with: 

?     Improved Collections, while reducing write-offs

?     Minimize delays and denials drastically

?     Help doctor’s office in reducing the overall revenue cycle

Also, our dedicated team helps you in each step of eligibility authorization like:

1.    Getting Schedules of patients by EDI, email or fax or check them consistently in the appointment scheduling software.

2.    Confirm patient's healthcare coverage with primary and secondary payers by making calls to them and checking through authorized portals. We likewise contact patients for extra information, if required 

3.    Update medical billing framework with verification details, for example, “Patient name, MRN, DOS, Insurance, DOB, Insurance ID Group, Insurance Plan Type, Patient effective dt, Patient Termination dt, In Network/Out of Network, Referral Valid Dates, Authorization/referrals, Co-pay, Deductions, Co-insurance, Out of pocket expenses, Insurance Representative Name, Call Reference No, Date Verified” 

4.    If there are any concerns with regards to a patient's qualification, we inform doctor’s office immediately.