The current health care system has created confusion about health insurance -not only among healthcare providers but also among patients. Patients are confused over why their plans come up with higher out of pocket expenses, despite opting for a low-cost premium plan.
Research has shown that most of the claims are denied or delayed due to gaps in patient information. This may be linked to incorrect form-filling during their visit, or failure to update the patient demographics of the patient at the front-desk/reception, expiry of insurance cover, lack of pre-certification or Prior- Authorization.
Above mentioned problems can be minimized or even Zeroed if every physician practice imbibes the proverb “Prevention is better than Cure”.
We believe and practice this principle and that is why we dedicate emphasized resource and time on performing Insurance Eligibility and Benefit verification.
A tidy verification process helps achieving three important things that defines any practices Success and cash flow.
- Better up-front collections of out-of-pocket expenses
- Decreased claim denials due to Prior Authorization, No coverage etc.
- Eventually improved First pass collection rates.