Last Updated on March 10, 2024 by admin
Verifying the patient’s insurance coverage before any medical procedure is essential. Insurance verification is necessary to ensure eligibility for coverage and that the procedure is pre-authorized. Failing to do so could result in incorrect billing and other headaches.
One of the most important aspects of receiving medical care is ensuring that the person has good insurance benefits. Insurance verification is a crucial step in the process, as it helps to ensure that you are eligible and that your procedure has been pre-authorized. Without proper insurance verification, there is a chance that you could be billed for services that you are not actually eligible for, which can lead to a host of problems and unnecessary stress.
Getting in touch with insurance providers before any medical procedure for insurance eligibility verification is essential. The insurance verification process may involve calling the customer service line. Other insurance providers have more convenient ways, like completing an online insurance verification process.
The front office staff may also need to provide information about the patient’s medical history and any past procedures they have received. Ensuring you have this information when you call to verify insurance can prevent delays.
Another critical step in insurance verification is working with doctors or other healthcare providers to obtain a pre-authorization for any necessary procedures. This will help to ensure that the services received are covered by the patient’s insurance policy. This can also prevent out-of-pocket costs when the procedure is not included in the patient’s insurance benefits.
Insurance verification is crucial for the policyholder to know any cost they must pay upfront before undergoing any medical procedure. With proper insurance verification and pre-authorization, You can benefit from the assurance that comes from understanding. Your medical care is covered by your insurance plan.
Process of verifying insurance coverage
When it comes to insurance verification, There are a few crucial actions that must be taken. To ensure a smooth process.
- Identify the patient’s insurance information.
This can be done by checking the patient’s ID or insurance card or contacting the insurance company directly. Note vital patient information at this stage to avoid going back and forth down the road, which includes:
- Insurance name, contact number, and claims address
- Insurance ID, patient’s policy number, and group number
- Name of insured (as it may not always be the patient’s policy)
- Patient’s information also includes the relationship of the insured to the patient (only if the payer is not the patient)
- Effective and end date of the policy
- Coverage status (e.g., currently active)
- Determine whether your practice participates in the plan
- Determine whether the health plan covers the procedure or medications to be provided
- Know the limitations of the policy, including exclusions
- Know the documentation requirements for bills
- Determine whether referrals or a prior authorization certificate of medical necessity is required for reimbursement
- Determine the patient’s deductible and copay amount
Although all the patient’s insurance information is entered into the system, getting a copy of the patient’s insurance card is always a good idea. Keeping a copy handy enables you to check it against existing insurance information and correct any errors if necessary. You can also use this as a backup in verifying patient insurance information when you cannot access the database.
Make sure to get both the front and back images of a patient’s health card. Ensure the card ID number is accurate when you send a claim to insurance companies. This will help reduce claim denials and ensure that patients receive the benefits of their insurance policies. An increase in approved claims means revenue for the practice, and practitioners are reimbursed accordingly.
- Verify that the patient is eligible for coverage.
This can be done by checking the policy’s benefits manual available via their website or the payer’s portal. You may also inquire through the insurer’s customer service line. The verification process is another reason why it is highly beneficial for any medical practice to have a virtual medical assistant.
Patients can avoid costly billing errors and unforeseen expenses by verifying insurance eligibility. Providers are assured they will be compensated for their services by letting virtual medical assistants handle insurance verification. Patients can also enjoy the peace of mind of knowing their medical care is covered by their insurance plan.
- Get prior authorization for the procedure.
This can be done by contacting the insurer’s authorization department to obtain plan-specific prior authorization request forms. Unfortunately, this can take about 30 minutes of hold time via phone. You may also utilize a payer’s website to get details about prior authorization, as requirements vary from one insurer to another.
Having virtual medical assistants reduces the staff’s administrative burden and enables them to have more effective patient encounters. Delegating this tedious task to a virtual staff ensures high accuracy and completeness of documents as they can dedicate their full attention to it. Virtual assistants are not subjected to the busy medical scene, reducing clerical errors that might result to claim denials.
In conclusion
Medical providers today rely heavily on electronic health records (EHR) for patient insurance verification and eligibility. While this process has streamlined the insurance verification process, it is still essential for healthcare providers to take extra steps to ensure the accuracy and completeness of documentation.
One of the most critical tasks in verifying insurance is ensuring patients are eligible for coverage. This can be done by checking the policy’s benefits manual or contacting the insurer’s claims department.
Another critical task is getting prior authorization for procedures. This can be done by contacting the insurer’s claims department and obtaining plan-specific prior authorization request forms.
By following these simple steps, healthcare providers can minimize billing issues and ensure that their patients receive timely and accurate billing statements. Ensuring accurate insurance verification is beneficial not only for healthcare providers but also for their patients as well. With the help of virtual medical assistants, organizations can focus on providing high-quality care to their patients without worrying about administrative issues.
