Non-verification of insurance eligibility may lead to several problems - delayed payments, rework, increased errors and patient dissatisfaction - making it essential to do accurate insurance verification much before starting the medical billing process.
Industry Facts
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Hence physicians need to make every effort to ensure accuracy especially during eligibility verification which is the beginning of the medical billing process
Why Insurance Eligibility Verification? - It Improves the AR Cycle
Standard procedure of checking insurance eligibility of the patient helps in:
Implementing automatic eligibility verification
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An accurate eligibility verification process at your practice!
Following a proper process for eligibility verification can help in reducing denials and improving revenue flow. But physicians limited by time restraints and to ensure maximum benefits for the practice, will benefit by teaming up with a good service provider.
Outsourcing Health Insurance Verification = Reduced Rejections and Denials!
MBC’s Insurance eligibility verification services mainly include:
| Payable benefits | Patient details | Co-pays | Pre-authorization no. |
| Co-insurance details | Deductibles | Effective date | Patient policy status |
| Type of plan & coverage | Plan exclusions | Claims mailing address | Referral & pre-authorization |
With your Eligibility verifications taken care of by MBC -helps you concentrate on patient care without worrying about denied claims & reimbursement issues
Advantages of eligibility verifications with 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 has been providing Insurance Verification – offered both as a separate component as well as integral part of our comprehensive suite of Medical Billing Revenue Cycle Management – which has helped in eventually bringing down our clients AR Cycle and enhanced their revenue generation.
Our qualified and competent team of medical billing specialists will make sure that you have your patients insurance plans thoroughly verified against intended medical services. Additionally in keeping with the changing trends we have also been offering our physicians assistance with electronic eligibility verifications assisting them with increased savings.
