To receive payments for the services rendered, healthcare providers need to verify each patient’s eligibility and benefits before the patient’s visit. Some estimates indicate that as many as 75% of the claims getting denied are on account of the patient not being eligible for the services rendered by the healthcare provider. Unfortunately, it is one of the most neglected processes in the revenue cycle chain.
Ineffective eligibility and benefits verification and/or prior authorization processes can result in increased claim denials, delayed payments, additional effort on rework, delays in patient access to care, decreased patient satisfaction, and non-payment of claims.
Corzon RCM brings you a team of experts to help you accelerate your client’s accounts receivable cycle. We confirm the patient’s eligibility and obtain necessary prior authorization before the patient visits the physician’s office.
Our team members will do the following as a part of the verification processes:
4. Where required, the team will initiate prior authorization requests and obtain approval for the treatment
5. Update the hospital’s revenue cycle system or the patient’s practice management system with the details obtained from the payers
Save over 40% in operational costs
In-house verification can be costly. Our team members based in India pick up the work queues and process each request diligently.
Improve speed to care delivery: Efficient prior authorization processing means that the patient can be scheduled for care reviews with the physicians timely, thereby improving patient satisfaction as well as physician utilization.
Reduce Claim Denials. Reduction in eligibility verification and Prior authorization related denials ensures that there is a lesser number of claim denials and cash flow is accelerated.
Reduce Bad Debt, Increase Cash Collection. Upfront determination of Patient responsibility for payments reduces patient debts and improves POS collections, besides improving Patient Satisfaction
Expertise. We work with all the major commercial and government healthcare payers including Blue Cross Blue Shield (BCBS), Aetna, Humana, United Healthcare, and others. Our team works with multiple medical specialties, across various states, and different size practices.
Focus on growing your business. As we take over the entire process at less than a third of the costs, you can now refocus your employees on growing your business.