Insurance eligibility
verification is a very important process that has to be performed most
diligently to avoid any unpaid medical bills or medical claim rejections and
denials. It is not a simple process of cross-checking or double-checking the
data. With hundreds of insurance providers with plans that are updated
frequently, it is an onerous task to check the insurance eligibility of a
patient. This coupled with the fact that most of the healthcare facilities lack
manpower and time to verify the details, causes many insurance claim denials.
One of the best possible ways to mitigate this risk is to outsource the medical billing responsibility of a healthcare facility to companies like Avontix that provide the best medical billing services in Hyderabad.
When a
healthcare facility partners with a medical
billing company, it saves its
time, manpower energy and money. Healthcare facilities in the USA should opt
for offshore medical billing companies because they are affordable and at the
same time provide the best manpower. Anyone who wants to join the medical billing jobs has to look for a
company that provides end-to-end services so that there is maximum exposure and
scope for growth in the industry.
Verification:
The process
of insurance eligibility verification is a part of medical billing jobs and it starts when the patient schedules are
received. It is best to complete insurance eligibility verification two or more
days prior to the patient encounter. The billing team also needs to keep
checking regularly the patient schedule through the appointment and scheduling
software. Then the patient’s insurance coverage with the insurance provider has
to be verified which involves making calls and speaking with the insurance
provider’s representatives. In some cases, it may require verifying details
through the insurance provider’s online portals. In cases where it is still
necessary, patients may be contacted for more information. While completing all
these steps information has to be collected appropriately for vital details
like eligibility and benefits applicable, co-pay details, deductibles, insurance
coverage period etc. Then, all this data has to be updated accurately into the
billing system. This kind of streamlined process will eliminate the risks
associated with medical claim rejections and denials, thereby increasing the
collections and improving the revenue cycle for the healthcare facility.