Insurance eligibility verification is the first and one of the key steps in medical billing and coding process. Most of the medical claims are denied or delayed by the insurance companies mainly due to incorrect or inadequate coverage details provided by the patients during their visits or when the current coverage information is not updated by the hospital or administrative staff. This directly impacts the cash flow of the company by delaying the reimbursements.
Outsourcing this to a service provider having an experienced team of medical billing and coding experts, who are updated with all the regular changes in health plans and policies, will prevent delays and denials of insurance claims. At Flatworld Solutions, we have been offering quick and efficient eligibility verification services to global clients for over a decade.
We have been in the medical billing and coding industry for over a decade and has worked with several clients around the globe. We understand the importance of accurate verification of medical insurance claims for an insurance provider, and ensure that our services are precise. Our offerings include -
When we receive the documents from the healthcare organizations / insurance providers, we thoroughly analyze all the documents and verify it against the list of the necessary documents. This process helps to organize the documents as needed by the insurance company.
We verify insurance E&B and insurance coverage details of the patient with the primary and secondary payers either by contacting them directly or by checking their official online insurance portals a day before the scheduled patient encounter. Then we capture and update details in the patient notes - copay, deductible, co-insurance, in-network, and out of network benefits, and, PCP name matching.
If required, we promptly contact the patient for follow-up encounter to seek any missing or incorrect information and get the required authorization as a part of our service procedure check. This helps in keeping track of all the information and cross verifying these details before the final submission is made.
We provide the client with the final results, which include the information about patient's eligibility and benefits along with other details, such as group ID, member ID, start and end dates of the insurance coverage, copay information, etc.
"Why opt for insurance eligibility verification services" is one of the biggest questions that often bother most of the healthcare organizations. Verifying medical insurance eligibility of patients is of utmost importance as it directly affects the cash flow of these organizations.
Some of the benefits of outsourcing these services are listed here -
When there is access to updated eligibility data, the chances of getting the claims quickly accepted and processed are also high. This helps in maintaining a constant cash flow into the organization by reducing denials and write-offs and increase patient satisfaction.
Eligibility responses are consistently and concisely viewed, which improves overall efficiency of the process. Following such consistent and streamlined approach will lead to superior patient experience and fewer denials.
By electronically matching self-pay patients with managed Medicaid databases, healthcare providers can get additional reimbursement opportunities. This also helps in identifying patients who unknowingly have coverage, reclassify them and submit their claims, which frees self-pay patients from financial burdens.
Read a case study to learn how FWS provided eligibility services to a US telemedicine provider. We verified the eligibility of individuals who applied for pharmacy and medical insurance.
At Flatworld Solutions, we have well-trained team of medical coders, who have the experience of working with different healthcare firms across the world and follow a streamlined medical insurance eligibility verification process. Some of the reasons for you to choose us include -
We provide the best-quality services at highly cost-effective rates, which help our clients to save huge on overhead costs
We have data security policies in place to ensure that all your medical insurance data remain completely safe with us
Our team is trained to successfully leverage even the latest medical billing software and can also work on other tools and technologies, as preferred by the clients
We provide highly accurate verification of medical insurance claims to global clients and ensure that all the verification we carry out is completely error-free
Delay in verification hampers the overall claim reimbursement process. For this reason, we provide quick verifications services, which ensure timely reimbursements, without any delay or denial
We have state-of-the-art infrastructure, which enables us to provide our healthcare clients with quick, accurate, reliable verification services at reasonable rates
Insurance eligibility checking is a key medical billing process which directly affects the cash flow, and requires the expertise of seasoned medical coders. Flatworld is a one-stop-solution provider offering diverse services like charge entry, CPT & ICD-10 coding, payment posting, denial analysis, AR management, etc., and outsourcing medical coding and billing to us can help you maintain cash flow and reducing ineligibility.Read more
Flatworld Solutions is a leading insurance eligibility verification company and has been providing a series of medical billing and coding services to global clients for over 18 years now. Our cost-effective services help clients to not only save overhead costs, but also concentrate on other core functions and serve their patients better. We follow a streamlined verification process to increase claims acceptance and reduce denials and write-offs. Outsourcing insurance eligibility verification services to us will help you get your medical claims quickly processed, improving your cash flow.
So, if you are planning to outsource insurance eligibility verification to a quick, reliable, and cost-effective service provider, then look no further. Get in touch with our executives today!
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Insurance verification is a process of checking claims submitted by claimants to see if it can be honored or if there are shortcomings that can be cited as reasons for the denial.
In medical billing, the eligibility verification is a process of checking a patient's insurance plan for coverage, validity, and any co-pay conditions.