What exactly is insurance eligibility verification, and why does your medical practice need help with this process? Working with a team of professionals who specialize in eligibility verification can increase the percentage of claims paid out on time. This should minimize the number of times you need to talk to the insurance company and reduce the percentage of denied claims.
What Is Insurance Eligibility Verification?
Insurance eligibility verification is verifying that your patient has insurance coverage and that the medications or procedures you want to order are covered. Some of the information you need to verify patient insurance coverage include:
- When verifying insurance eligibility you need the patient’s demographic information. This includes their name, birthday, address, and other identifying information. You also need the patient’s insurance carrier information. This includes the insurance company’s name, the patient’s insurance ID, and policy number.
- You need to get the patient’s insurance plan details by calling the insurance company for more information.
There are a few significant benefits of verifying patient insurance eligibility. They include:
- If you verify the patient’s insurance coverage ahead of time, you increase the chances of your claim being paid out on time.
- You can also reduce the chances of patients being blindsided by a large bill because the insurance company did not cover it.
- If you verify the patient’s insurance coverage ahead of time, you don’t need to worry about calling the insurance company to fight with them on specific claims after services are rendered.
Why Should You Outsource the Process?
While you probably have a process for handling this yourself, your practice could benefit from outsourcing the insurance verification process. Some of the benefits of this include:
- Generating more revenue for your practice because you do not need to handle this administrative burden on your own. You can rely on a team that specializes in this area.
- Save time because professionals understand how to verify insurance eligibility more quickly, which will give you the information you need to take better care of your patients.
- Outsourcing this process will also help your providers and staff focus on patient experience. Your staff probably does not want to spend a lot of time on the phone with the insurance company, and you can save them from this if you decide to outsource this process.
- You will have more clarity regarding what you can and cannot do because a professional team understands how to ask the right questions to get you the right information you need to make decisions about patient care.
For all of these reasons, you need to partner with an experienced team that can help you handle Insurance eligibility verification. At DataMatrix Medical, it would be our pleasure to do exactly that.
Partner With DataMatrix Medical for All Insurance Eligibility Verification Services
If you are looking for a team of experts to help you handle insurance eligibility verification, look no further than DataMatrix Medical. We have a tremendous amount of experience working as specialists in this field. Therefore, we know exactly what it takes to efficiently verify patient insurance coverage. Using our proven process, we can help you save time, providing you with the information you need to make decisions regarding patient care. If you would like to learn more about how we can help you, contact us today.