For medical practitioners to determine if a patient is qualified for the recommended course of treatment, patient eligibility verification is a must. Actually, eligibility verification is a prerequisite in the revenue cycle management process. It also offers other benefits like copayments and co-insurance, as well as a check to see if the patient’s insurance covers the healthcare service or not.
Patient eligibility verification is essential to the overall success of the medical practice. According to reports, faults or inaccuracies in the healthcare provider’s eligibility verification of patients account for about 70–75% of claim denials. It shows that most practices neglect their eligibility verification procedures, resulting in claim delays and denials. However, hiring the patient eligibility verification service by Medtech Providers can help you with accurate eligibility verification and medical billing.
It’s a no brainer that eligibility verification is the first and most crucial step in the medical billing process. Insurance verification must be done correctly for a practice, to get payments on time. Before providing any healthcare services, the medical practice must check and verify the patient’s eligibility. If you are not verifying your patients’ eligibility then you risk your payments being delayed or possibly denied that ultimately results in lower income and more claim denials.
By hiring Medtech Providers for eligibility verification services, you can let our patient eligibility verification experts do the extensive verification while you are focused on catering to your patients. Our experts will help you in reducing the number of claim denials while increasing your revenues.
The main advantages of outsourcing eligibility verification to MedTech Providers are listed below.
To help you avoid claim denials, our qualified eligibility verification consultants offer excellent eligibility verification services. We handle end-to-end insurance verification in which we monitor the benefits and coverage provided by the insurance providers to eliminate any possibility of error or mistake. Medical practice and patient satisfaction have grown due to the incredible accuracy of our claim filings.
MedTech Providers tend to adhere to a thorough approach to patients’ eligibility verification to shorten their entire accounts receivable cycle. Before the patient visits the doctor or physician’s office, our patient eligibility verification specialists verify the patient’s eligibility by collecting the necessary prior authorization and using the correct breakdown of benefits. The steps in our verification procedure are receiving patient schedules from the clinic, hospital, or office of any other medical provider. We ensure entering the patient’s demographic data after that, its benefits are broken down by main (on the day of service) and secondary payers (copays or coinsurances, etc.). Then, our staff starts prior authorization requests and gets the recommended treatment approved. Finally, we modernize the medical practice’s revenue cycle system using the information gleaned from the payers.