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To process Insurance eligibility verification without claim denial has been one of the major hindrances for Healthcare, as claim reimbursement is provided only after the patient’s treatment. Hence it is crucial to have an insurance eligibility check before treatment. This also helps the patient be aware of the insurance status and get ready for the extra payment.
However, with changing insurance protocols and regulations, medical insurance verification is not an easy chore for healthcare providers. At times, with the increase in patients’ numbers, healthcare providers could not submit the data on time, resulting in a claim denial, claim rework, and other categorial rejections. This can result in reduced cash flow for healthcare providers.
How can healthcare providers overcome this scenario?
This is where outsourcing partners come to the rescue. With certified and experienced experts, outsourcing partners follow a streamlined and transparent insurance verification process, submitting insurance claims on time and ensuring steady cash flow, all while keeping track of the current regulations and insurance protocols.
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Streamlined and transparent Insurance Eligibility Verification:
Outsourcing partners follow a streamlined and transparent process providing data on a real-time basis anytime, anywhere. They also keep constant tabs on patients and insurance providers to ensure a seamless process throughout the claim verification.
This way, Healthcare providers no longer need to do the cumbersome verification process or chase after patients. They can step aside from their repetitive tasks and focus on more critical tasks.
Insurance Verification Specialists on Board
By enabling outsourcing services, healthcare providers can now get the guidance of certified and experienced specialists. Having handled multiple patients’ insurance coverages, these experts will know where to look out in case of complex claims. They not only process insurance claims on time but also minimize the reworking of patient’s claims.
Additionally, these experts keep a constant lookout for a change in claims policies, latest deductibles, and more to provide healthcare providers with up-to-date data and reduce claim denials.
Ensuring a Steady Cash Flow
Having specialized in the industry, it is no wonder outsourcing partners can be much faster than healthcare practitioners. With their insurance verification process, both the healthcare providers and the insurance provider get accurate data on patients’ insurance coverage on time.
This streamlined insurance verification process quickens approval times and ensures no delays or resubmissions, all while promoting a steady cash flow for healthcare practitioners.
Minimizes Workload and Labor Costs
Outsourcing insurance specialists are highly economical when compared to hiring in-house specialists. This is because a healthcare provider needs more in-house specialists for insurance verification. Also, the payment is made monthly. However, outsourcing specialists are more cost-effective as they are on a per head basis. Not to forget the cost and time required for training and recruiting these in-house specialists.
Robust Security and no Compliance Risks
Today’s regulatory policies have become more stringent than ever. Hence you no longer need to fret about data security with outsourcing partners. They keep a constant track of regulatory changes and put a great deal for patient data security, ensuring robust Security for your patient data.
Conclusion
From all these tangible outcomes, it is no wonder to witness a myriad of blue-chip organizations opting for outsourcing services for insurance eligibility verification. Now is always the best time to act. To experience a streamlined and secured insurance eligibility verification process, connect with iTech.
With skilled experts and prior industry knowledge, we pride ourselves on delivering first-rate insurance verification services in the market. Also, as a data outsourcing solution provider, we have high regard for data security, we abide by all the HIPAA compliance rules. Let us e-meet to talk more!
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IDS Commander iTech2021
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