FAQ

Yes, we specialize in finding commercial payers as well as Medicare and Medicaid.

Yes, we offer billing services, such as insurance loading, claim submission, and follow up for our clients.

Yes, every account is verified by one of our analysts prior to sending over to our clients. We strive to provide our clients with a 95% clean approval list.

We utilize a comprehensive patient profile generated by computer algorithms and manual reviews. Multiple sources of data linked together maximize probability of discovering eligibility.

Post-discharge insurance discovery plays a pivotal role in the financial health of healthcare providers and the overall patient financial experience. This essential step ensures that healthcare organizations maintain precise insurance details for billing and reimbursement, significantly reducing the likelihood of bad debt.

Financial Stability for Providers

By accurately identifying insurance coverage after a patient has been discharged, healthcare providers can secure appropriate reimbursements more efficiently. This meticulous process helps in:

• Reducing Bad Debt: With correct insurance details, providers can minimize instances of unpaid bills, thus stabilizing their revenue streams.
• Enhancing Cash Flow: Timely and accurate billing facilitated by thorough insurance discovery speeds up the revenue cycle, leading to improved cash flow.

Improved Patient Financial Experience

Post-discharge insurance discovery also significantly enhances the financial experience for patients. It helps in:

• Clarifying Financial Responsibilities: Patients are given a clearer picture of their financial obligations, reducing confusion and financial stress.
• Preventing Billing Errors: Accurate insurance information helps avoid billing mistakes, ensuring that patients are not overcharged or incorrectly billed.

By integrating post-discharge insurance discovery into revenue cycle management, healthcare providers not only bolster their financial stability but also foster a more transparent and supportive financial relationship with their patients.

How Do Insurance Discovery Tools Verify Patients’ Insurance Coverage?

Insurance discovery tools streamline the process of verifying patients’ insurance coverage. Here’s a step-by-step look at how they work:

1. Post-Discharge Insurance Discovery

Healthcare organizations implement specialized software to identify insurance coverage post-discharge. These tools tap into multiple sources, such as insurance databases and payer websites, to locate potential coverage.

2. Data Matching

The software gathers patient demographic information, including names, dates of birth, and Social Security numbers. It then matches this data against existing insurance records to find any missing or unverified insurance details.

3. Eligibility Verification

Once the software identifies possible insurance coverage, it verifies the patient’s eligibility. This includes checking coverage effective dates, benefit specifics, and any required preauthorizations.

Using these tools, healthcare providers can ensure that they have accurate and complete information about a patient’s insurance coverage, thus enabling better financial management.