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Eligibility Verification is a significant denial management tool

Providers lose thousands of dollars every year when services provided by them are denied as non-covered services by the patients’ medical insurance company. Usually, the providers know about these denials anywhere between 15-30 days after the services were provided. As a result, they end up billing the patient after 30 + days and need to spend more time, money and resources to collect the dues. If they are not successful in getting the money from the patient, it will usually be moved to a collection agency. This non-productive billing process can be elevated by adopting insurance eligibility verification.

It is standard for individuals or employers to change their insurance plans for various reasons. These frequent changes make it essential for the providers to have updated information on patient insurance coverage. Hence eligibility verification process has become a crucial step in quicker reimbursement. It reduces and, in many cases, eliminates denials. Eligibility verification helps to increase provider revenues and weeds out uncollectible. (more…)

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Medical Billing Outsourcing – A Boon to the Healthcare Industry

In these fast-paced and rapidly evolving times, providers are faced with many challenges, including reduced reimbursements, changing government laws, strict patient health information rules and more. Physicians are faced with providing excellent patient care and need to ensure they are paid fully for all the services they have provided. Providers usually hire a dedicated in-house biller or billers for their practice or outsource their medical billing requirements to a professional medical billing and coding company.  (more…)

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