Before patients receive the care they need, it is essential to verify their insurance coverage. We recommend having this verification confirmed 48-72 hours before the patient’s medical appointment or service.
There are many ways practices verify insurance. Some use real-time insurance eligibility verification software, others complete this task internally with the use of office staff and some outsource this task.
DataMatrix Medical offers Insurance Verification Services, learn how our services can help your practice? Let’s break it down.
How Real-Time Eligibility (RTE) Verification Works
When a medical practice uses RTE, they are typically entering the patient’s information and pertinent plan details into the insurance eligibility module. This includes basic information about their insurance plan.
Then, the tool generates a list of coverage patient benefits, allowances, and other basic eligibility features.
While this sounds “quick and easy”, this process can lead to a higher percentage of denied claims as you may not have specific verification from the insurance company for a particular medical appointment, medication, or procedure.
How DataMatrix Insurance Verification Service Works
When using DataMatrix Medical to complete your insurance verification, we take a different approach – our staff physically calls the insurance provider to get the insurance verification!
I know what you are thinking, this process can be very time-consuming, and this is why we use RTE. You are not wrong. This is a time-consuming task. However, statistics show that 63% of patient claim denials are from ineffectively verifying insurance eligibility. So why is your practice using RTE?
Don’t forget that outsourçing is an option that can be cost-effective and accurate for both your practice and your patients.
Benefits of Partnering with DataMatrix Medical for Insurance Eligibility
Implementing a workflow to outsource your insurance verification eligibility tasks doesn’t take very long. Once in place, your medical practice will enjoy several benefits. They include:
- More Successful Claim Submissions: Many practices have very high claim denial rates. To increase the success rate of claims, it is important to take advantage of insurance verification by getting customized information and approval of the claim. DataMatrix Medical’s specially trained staff are experienced in verifying coverage for all major and minor medical insurance plans. This means we effectively streamline this process and increase your claim success rate.
- Higher Rates of Patient Satisfaction: Patients can become frustrated when they receive unexpected medical bills for completed medical care and are not eligible to be covered under their policy. With DataMatrix services, we can confirm verifications at least 48 hours before the patient’s service, so there is a clear understanding of how much insurance will cover and how much the patient will need to pay out of pocket. By sharing this information up front, you can keep your patients happier which in return will keep them coming to your practice for their future visits.
- Better Staff Satisfaction: In recent years, staffing shortages have become one of the top challenges for physicians. Good staff is also hard to find. One way to keep staff satisfaction high is to outsource tasks such as insurance eligibility which are often very time-consuming and frustrating. Let your practice staff members spend time taking care of patients, and let DataMatrix Medical help streamline practice operations for insurance verification. DataMatrix Medical’s trained staff have consistently proven to accurately complete verifications promptly as they are solely focused on verification.
These are just a few of the many benefits you will enjoy if you decide to outsource your insurance verification tasks. That is where we can assist.
Contact DataMatrix Medical for Help With Insurance Verification
At DataMatrix Medical, we are proud to be one of the most trusted teams for medical practice services. This includes services from medical transcription and scribing to prior authorizations, voicemail transcription, and insurance verification. Contact us today! Our services are custom-made to fit the needs of your practice. Learn more about how we can assist you.