Why is it necessary to outsource insurance verification services


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To ensure accurate claims, outsource your eligibility verification tasks to a reliable outsourcing firm. Insurance verification services from such a firm will bring you exact and speedy reimbursement.

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Why is it necessary to outsource insurance verification services

  1. 1. Outsource strategies International Call: (800) 670 2809Why Is It Necessary to Utilize Outsourced Insurance Verification ServicesNeedless to say, healthcare practitioners comprise a group for which sitting at adesk and doing routine paperwork is a virtual impossibility. They are constantlyon call. For many outside the medical profession it is unconceivable how theseprofessionals manage to be on their feet throughout their working hours.Physicians rarely find time to attend to processes such as medical billing andinsurance verification services thatare important to maintain their practice.Caught between the responsibility ofpatient care and the more mundaneadministrative workload, medicalprofessionals are often distraught.Outsourcing is a real lifesaver for them.Medical Insurance Verification – an Important Component of MedicalBillingMedical insurance verification is of prime importance in medical billing as it isthe only way to confirm whether a patient is covered under a particular healthinsurance plan. The entire verification process has to be done with precision, asany sort of data mismatch can lead to denial of claims and non-payment ofreimbursement benefits. Moreover, eligibility verification has to be completedbefore the patient’s appointment date. This is what makes outsourced insuranceverification services from third-party service providers a necessity in mostmedical practices.Outsourcing Ensures Maximum Cash InflowMost often claim rejection issues arise when the information provided by thepatient to the insurance carrier is wrong or when his / her policy has expired, Insurance Verification Services
  2. 2. Outsource strategies International Call: (800) 670 2809been terminated or modified. Moreover, insurance agencies sometimes makecrucial revisions and updates in their health plans and policies. To get the duereimbursement for your services, it is necessary to confirm that the patient iscovered under the new and updated insurance plan before starting the treatmentprocedures. When the eligibility verification process is not completed carefully,it may be impossible to identify such important factors as well as correct crucialflaws in data, which can lead to issues such as: • Increased errors • Patient dissatisfaction • Need for rework • Delayed payments • Non-payment of claimsUtilizing insurance verification services provided by an established medicalbilling company will help you manage routine insurance verification tasksefficiently. You will also be ensured speedy and accurate reimbursement.Additional benefits you stand to gain include: • Reduce claim denials and rejections • Improve patient satisfaction • Increased number of clean claims • Enhanced staff productivity • Reduced costs • 30% to 40% cost savings • Increased upfront collections • Improved cash inflow and profits • Eliminate eligibility verification backlogs Insurance Verification Services
  3. 3. Outsource strategies International Call: (800) 670 2809 • Enhance practice efficiencyInsurance benefit verification services cover procedures such as: • Receiving patient schedule from the hospital via EDI, email or fax • Contacting patients, if necessary • Checking patients’ insurance coverage with primary and secondary payers • Updating the billing system with eligibility and verification details, and much moreReliable Services from Knowledgeable ProfessionalsCompanies that offer health insurance verification services are equipped withexcellent infrastructure, advanced technology and innovative software packages.Insurance verification experts in these firms are experienced and knowledgeableabout the latest insurance norms and federal government policies. Theseprofessionals ensure that all medical claims are processed and submitted in atimely manner. The following are the important details verified: • Claims mailing address • Patient policy status • Patient details • Co-insurance details • Co-pays • Payable benefits • Pre-authorization number • Deductibles • Type of plan and coverage details Insurance Verification Services
  4. 4. Outsource strategies International Call: (800) 670 2809 • Effective date • Plan exclusions, and so onLook for Affordable and Quality ServicesOutsourcing insurance verification tasks to professional companies enables youto manage your healthcare facility with enhanced efficiency. Organizedinsurance verification services ensure the smooth functioning of your medicalpractice with enhanced cash inflow and a steady revenue cycle. However, tobenefit from quality services, outsource your insurance benefit verification tasksonly to an experienced company. Such a firm can meet your specific eligibilityverification requirements effortlessly, at affordable service charges, withinminimum turnaround time. MOS Outsource strategies International 8596 E. 101st Street, Suite H Contact Details Tulsa, OK 74133 Phone: (800) 670 2809Article Source: http://www.americanchronicle.com/articles/view/290296 Insurance Verification Services