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Monday November 19, 2012
How can accurate eligibility verifications help in reducing denials?
Non-verification of insurance eligibility may lead to several problems - delayed payments, rework, increased errors and patient dissatisfaction.

Physicians can benefit immensely by implementing an accurate insurance verification process prior to starting the medical billing process.
Industry Facts
  • Improper verification of insurance can increase claim denials
  • One in every five medical claims are processed inaccurately by health insurers
  • Health insurance industry as a whole has about 80% accuracy rate for processing & paying claims
  • 1% improved claims processing accuracy creates an estimated savings of $777.6 mn. in unnecessary administrative cost
Hence physicians need to make every effort to ensure accuracy especially during eligibility verification which is the beginning of the medical billing process to ensure reduction in denials
Why Insurance Eligibility Verification? --- It Improves the AR Cycle!
Standard procedure of checking insurance eligibility of the patient helps in:
  • Identifying patients who have - changed carriers, have pre-existing exclusions & so on
  • Improves patient relations as your patients will be prepared in advance
  • Immediately increases your cash flow by collecting patient portions at time of service
  • Helps in sorting any disputes later with the insurance company regarding eligibility verification
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Setting up an accurate eligibility verification process at your practice!
  • Following a proper process for eligibility verification can help in reducing denials
  • Yet physicians limited by time restraints may need to team up with a good service provider
Outsourcing Health Insurance Verification = Reduced Rejections & Denials!

Advantages acquired by outsourcing eligibility verifications to MBC…

Improve cash flow

Reduce costs (30 - 40% below operational)

Increase efficiency

Increase upfront collections

Reduce claim denials

Reduce lost revenue in collections

Increase staff productivity

Increase patient satisfaction

Increase number of clean claims

Assistance in providing improved patient care

Reduce the time spent following up on claims

Increase office efficiency

Quick approval

Workflow simplified

Chances of risk reduced

Quicker billing cycles

MBC for over a decade now has been providing Insurance Verification – offered both as a separate component as well as integral part of our Medical Billing Revenue Cycle Management.

  Outsourcing health insurance verification to MBC = Reduced rejections & denials + Improved patient care  

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