With healthcare being linked to
insurance in most cases, it is important to verify eligibility to ensure lower
denials. At the pace with which administrative procedures are executed in
healthcare, it is highly possible that incorrect or insufficient information is
updated during billing. This results in a tedious and entirely avoidable
process of denials and delays in clearance of claims. We take a closer look at
the benefits of proper insurance eligibility verification in medical practice.
Reducing
chances of claim denials and delays
Submission of incorrect, or
inadequate information can be resulting in claim denials and unfortunate
delays. This results in greatly impacting the flow of revenue in a negative
manner. It is vital that bills and claims are accepted upfront without a round of
delays that may play havoc with planned disbursals. This can be achieved
through a process of proper verification of all information, and diligent cross
checking prior to submission.
Reduce
exposure to losses as a result of conclusive denials
An improper submission of bills and
claims can often lead to a conclusive denial. Such instances of write off do
occur as a result of practices that are not fully compliant with procedures.
There is very little that can be done after write offs, and this can have a
serious detrimental effect on financial health. ‘Prevention is better than
cure’ is the adage to be followed in healthcare, and it is only natural that
this extends to all areas of operations in a healthcare entity.
Staying
abreast of policy changes of insurance companies
Insurance companies, like all other
sectors often make changes in policy. These updates need to be factored into
the verification process to ensure that the changed requirements are fully met.
This will ensure that the claims result in securing reimbursement as sought.
Staying abreast of changes also ensures that the least amount of time is spent
on billing and receipt of claims.
Verifying
insurance eligibility will help restrict unproductive
actions and contribute to overall success of the organization. Streamlined
processes followed as per updated procedures help to maintain efficiency and
revenue flow.
e-care has great expertise in
handling Insurance Eligibility and Benefit verification with all types of
payers across States hence can help you to lower the denials and increase
reimbursement.
No comments:
Post a Comment