THE ESSENTIALS OF INSURANCE VERIFICATION SERVICES Insurance verification plays a vital role in a healthcare’s claims denial management program and the medical care providers should be aware of its importance in the healthcare industry. Insurance verification is the process of verifying a patient's active health coverage with the insurance agency and confirming whether the patient is eligible for insurance claims or not. Though verification of the health insurance is not that difficult, it is time consuming and requires a lot of attention. Since most of the healthcare providers are busy with their routine work, the hospital administration work often gets ignored leading to an increase in claim denials and errors. Also due to lack of adequate administrative staff to take care of the verification work, the hospitals and other healthcare …show more content…
Outsourcing to reliable services sweeps away the claim denials by the insurance companies and evades the risk of not being compensated for the services rendered. Outsourcing companies engage skilled professionals who have knowledge and experience in healthcare terminology, insurance and medical techniques, to carry out the required procedures. This verification procedure enables the healthcare provider to easily check whether a patient is covered under the latest scheme or not. The patients can also enjoy maximum benefits if they are covered under the new scheme. This process, however, should be done before the patient is being admitted into the hospital as otherwise the whole process may slowed down ultimately affecting the bottom line of the hospital. Once the insurance verification process is completed, the hospital authorities can relax as they can be assured of payment if the patient is found eligible for health benefits and