Eligibility Verification

Meds First: Insurance Eligibility Verification & Pre-Authorization Services

Protect Your Practice from Costly Write-Offs & Denials

When aiming to optimize revenue cycle efficiency and profitability, healthcare providers should focus on the crucial first step—insurance eligibility verification and prior authorization. When executed correctly, this process helps reduce denials, decrease outstanding accounts receivables, and enhance revenue growth.

Recent studies show healthcare providers spend approximately 30% of their annual income on insurance eligibility verification. This is due to the growing complexity of insurance verification, caused by frequent changes in insurance plans and increased patient financial responsibility.

importance of eligibility verification
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A significant number of claims are denied because they are billed to the wrong insurance carrier or fail to meet eligibility requirements. A comprehensive check of patient insurance eligibility before admission is critical. Meds First ensures your claims are protected with thorough eligibility verification, minimizing the risk of insurance denials.

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Maintaining an in-house team dedicated to insurance-related operations can place a significant financial strain on provider practices. Costs quickly add up with recruiting, training, retaining staff, and investing in technology and software. Outsourcing insurance verification tasks eliminates these overhead expenses. Professional outsourcing providers offer flexible pricing models, allowing you to pay only for the services you need.

Process: A Systematic Approach

Our eligibility verification and pre-authorization solutions are designed to enhance your revenue cycle performance, ensuring 100% acceptance of claims submitted.

  • Collect patient information upon receiving their schedule via email, FTP, or fax.
  • Verify both primary and secondary payer status.
  • Update demographic and relevant details.
  • Input verification and eligibility information, including coverage dates, group and member IDs, co-pay details, and more, into your billing system.
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Physicians

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Hospitals

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PAs/ NPs

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PT/OT/SLP

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Chiropractors (DC)

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Podiatrists (DPM)

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Clinical Psychologists

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Marriage and Family Therapists

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Ambulatory Surgery Centers (ASC)

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Occupational Therapists

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Ambulatory Surgery Centers (ASC)

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Urgent Care Facilities

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Clinical Laboratories

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Diagnostic Testing Facilities (IDTF)

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Sleep Labs

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Dentists/ Orthodontists

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Optometrists

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Audiologists

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Behavioral Health Providers

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And many more

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eligibility verification with meds first
Benefits: Why Partner with Meds First?

Eligibility Verification in Healthcare RCM

Protect your claims from insurance denials Streamline your revenue cycle Expedite reimbursements and minimize delays Improve productivity and process efficiency Ensure 100% payment collections Fast-track approvals and authorizations Real-time verification with batch upload options Certified professionals equipped with the latest technology Dedicated team and project manager to handle critical bills and customer inquiries Real-time checks for co-pays, benefits, deductibles, co-insurance, policy status, and more Update exclusions, plan type, coverage details, effective dates, pre-authorizations, referrals, and mailing addresses.

We also help you stay informed on current health insurance policies to maximize patient benefits. Our certified billing professionals stay up-to-date on the latest developments to set your practice up for success from the start.

Eligibility verification in medical billing confirms patients’ insurance coverage and benefits before services are provided.

How MEDS First Can Help?

MEDS First simplifies the eligibility verification process, enabling healthcare providers to reduce denials and improve revenue cycle efficiency. Our experienced team works directly with insurance carriers to verify patient eligibility for both primary and secondary payers, ensuring accurate information regarding coverage, co-pays, benefits, and policy details. By outsourcing eligibility verification to MEDS First, your practice can eliminate the administrative burden of managing this task in-house, lowering operational costs and preventing costly billing mistakes. Our cost-effective solutions help maximize cash flow and streamline your processes, ensuring more accurate and timely reimbursements.

Insurance Eligibility & Benefits Verification

Your Questions Answered

What is insurance eligibility and benefits verification?
Insurance eligibility and benefits verification is the process of confirming a patient’s insurance coverage. This includes checking details such as deductibles, co-pays, coverage limits, and any pre-authorization requirements to ensure that services are properly covered.

Why is it important to verify insurance eligibility before providing services?
Verifying insurance eligibility helps prevent claim denials and ensures patients are aware of their financial responsibilities. It also allows practices to plan for any required pre-authorizations, ensuring smoother service delivery.

How do you verify insurance eligibility and benefits?
We utilize electronic tools and platforms to verify insurance eligibility in real-time, ensuring we have the most accurate and up-to-date information regarding a patient’s coverage.

What do I do if a patient’s insurance information is incorrect or outdated?
If we identify incorrect or outdated insurance details, we work directly with the patient to gather accurate information. This may involve contacting the insurance company or the patient for clarification.

Can you verify insurance eligibility for multiple insurance plans?
Yes, we can verify eligibility for various insurance plans, including commercial insurance, Medicare, Medicaid, and more, providing comprehensive coverage checks.

How does insurance eligibility verification impact the billing process?
Accurate eligibility verification ensures claims are submitted to the correct payer, reducing claim denials. It also helps accurately estimate patient responsibility, including co-pays, so there are no surprises for the patient or the practice.

What steps do you take to ensure patient privacy during the insurance verification process?
We comply strictly with HIPAA regulations and utilize secure, encrypted communication channels for all insurance verification processes. Only authorized personnel have access to sensitive patient information.

What is an insurance claim status check?
An insurance claim status check involves reviewing the current status of a submitted claim with the insurance provider. This helps track claim progress and identify any issues that need addressing.

How often do you perform claim status checks?
We conduct regular claim status checks to ensure timely processing, with frequency varying depending on the insurance company’s requirements and the nature of the claim.

What actions do you take if a claim is denied or delayed?
If a claim is denied or delayed, we thoroughly review the claim to identify the issue. We then take appropriate actions, such as resubmitting the claim with corrections or initiating an appeal process.

Can you provide real-time updates on claim status to the healthcare provider?
Yes, we offer real-time updates on claim status through a secure online portal or via email, ensuring that providers are always informed about their claims’ progress.

How do you handle claim status checks for multiple payers?
We have systems in place to manage claim status checks for multiple payers efficiently. Our team uses electronic tools to streamline the process, ensuring smooth claims management.

Do you have a process for identifying and resolving claim discrepancies?
Yes, our dedicated team specializes in identifying and resolving claim discrepancies, addressing issues like coding errors, billing discrepancies, and payer-specific requirements.

Can you assist with claim status checks for both electronic and paper claims?
Absolutely. We can perform claim status checks for both electronic and paper claims, providing a comprehensive approach to claims management.

What is prior authorization in healthcare?
Prior authorization is the process of obtaining approval from an insurance company before providing certain medical services, procedures, or medications. It ensures that the proposed treatment is medically necessary and covered by the patient’s insurance.

How do you handle the prior authorization process?
We have a dedicated team that specializes in securing prior authorizations. This team communicates with insurance companies, submits required documentation, and tracks each authorization request until approval.

How do you handle urgent cases that require immediate treatment?
For urgent cases, we expedite the prior authorization process by submitting necessary documentation promptly and maintaining constant communication with the insurance provider to speed up approval.

What information is typically required for a prior authorization request?
Commonly required information includes the patient’s demographic details, medical history, diagnosis, procedure codes, clinical documentation, and the provider’s information.

What are some common reasons for prior authorization denials, and how do you address them?
Prior authorization denials often result from incomplete documentation, lack of medical necessity, or coding errors. We address these by ensuring that all necessary documentation is submitted and by appealing denials when applicable.

What steps do you take if a prior authorization request is denied?
If a prior authorization request is denied, we carefully review the reason and take action, which may include appealing the decision, providing additional documentation, or exploring alternative treatment options.

Can you assist with obtaining retroactive prior authorizations?
Yes, we assist providers with retroactive prior authorizations, working directly with insurance companies to secure necessary approvals even after the service has been provided.

Schedule a Free Consultation Today

Call or email us to arrange a no-commitment consultation & discover how partnering with Meds First can enhance your practice's operations.

TALK WITH AN EXPERT: 1 (800) 913-664