Boost Efficiency with Fast and Accurate Healthcare Insurance Eligibility Verification

The Affordable Care Act (ACA) surely has increased the importance of verifying insurance eligibility and benefits. Patients can lose coverage month to month for unpaid premiums. Then while the ACA does have a grace period where coverage is partial, claims submitted in the second and third months of that grace period could still be denied if premiums are unpaid altogether. Uncertainty leads to increased bad debt, delayed reimbursements, and lost revenue, especially if you do not have a systematic health insurance verification process in place.

The Key MedSolutions, an experienced revenue cycle management company, came into the picture. We provide a robust insurance verification process to help healthcare providers check a patient's insurance status before the services are provided. Our solutions proactively identify coverage that is inactive or lapsed early enough so that claim denials can be reduced and claim work to reprocess claims can also be reduced, which meant that faster and more accurate reimbursement can also be achieved.

With our real-time insurance eligibility verification system, we provide confirmation of active insurance coverage, benefits, co-pays, deductibles, and out-of-network limitations. This allows practices to have open and upfront financial conversations with their patients ahead of time; leading to improved patient satisfaction and reduced billing disputes. Our benefits verification services ensure that your team has accurate, actionable data to utilize prior to each appointment.

By using our patient insurance verification services, providers are given access to real-time information across both commercial, Medicare, and Medicaid plans. We verify any requirements of the plan, including pre-authorizations and referral requirements, meaning every claim is submitted accurately the first time. By using our medical eligibility verification services, you can effectively improve the operationalization of your revenue cycle, productivity, administrative burden and mitigate revenue leakage.