There are a number of options available to verify patient availability and all of them will more...
Introducing.... Eligibility SummaryA Comprehensive Patient Insurance Verification Software...
Verifying with insurance carriers on patient eligibility is one of the requirements of any medical...
Verifying patient eligibility is becoming an indispensable process when it comes to billing patients, getting paid by insurance providers, and the overall management of practices’ revenue cycles. With the rise in high-deductible and cost-sharing insurance plans, more and more patients are required to make payments at the time of service, though many patients are unaware of that fact.
Eligibility verification—particularly when done in advance—solves this problem, allowing you to give important information to your patients before their appointments.
If you thought that medical coding and billing used to be a complicated process, it’s likely only become more complicated since the recent transition to ICD-10. In addition to this change, the recent growth in the number of high-deductible and cost-sharing insurance plans, as well as the Affordable Care Act, have likely also had some sort of effect on your revenue cycle.
The solution to managing all of these recent changes? Patient eligibility verification.
For most medical practices looking to improve their efficiency and the care they provide to their patients, there is always room for improvement. But many times, deciding where to start can be the most overwhelming part.
Oftentimes, medical practices turn first to their front desk or office, as this is where the patient begins their experience.
Recently, insurance policies have been changing, putting more and more of the financial burden on the patient, in the form of copays and high-deductible plans. Because of this change and this increase in financial obligations that patients are faced with, it’s becoming more important for medical practices to verify each patient’s insurance eligibility–before the office visit, if possible.
Verifying patient eligibility before a patient sees a physician has a number of benefits, and overall will save your practice both time and money.