Insurance Verification Services
Is inaccurate or incomplete insurance information causing revenue leakages in your medical practice? Manually sifting through multiple documents and cross-checking the information with the insurer and patients is a tedious process. Any error in the same causes claim denials or delayed payments. Tap into our expertise for prompt verification of benefits and accurately determine allowable reimbursements from patients or insurance. We tailor insurance verification services to boost your claim processing workflows, enabling improved financial performance.
Years of Experience
Industry Verticals
Experienced Professionals
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Outsource Insurance Verification Services to the Expert
We have over 25 years of experience in managing medical insurance eligibility verification for healthcare specialties worldwide. This includes cardiology, oncology, neurology, emergency medicine, and more. We assist healthcare practices and organizations in streamlining and optimizing the often complex and time-consuming processes of verifying patient insurance coverage. Our approach is founded on our carefully selected team of professionals proficient in the latest verification procedures, advanced tools, and global best practices.
Our service relies on a methodical process to ensure accurate insurance verification. We gather comprehensive patient information, including demographics, insurance details, and relevant medical history. The next step is meticulous verification of the extent of a patient’s insurance coverage eligibility to minimize the chances of claim denials. This involves confirming copayments, deductibles, coinsurance, referrals, and any pre-authorizations required before starting any medical procedure. We scrutinize for discrepancies and document verification outcomes.
A multi-tiered approach guarantees error-free processing. Experts review applications for mistakes, validate information, and quality checks ensure accuracy. This comprehensive approach catches and corrects errors, delivering ready-to-submit applications.
Our Comprehensive Insurance Verification Services
- Patient Information Collection
- Contacting the Insurance Provider
- Verification of Benefits
- Obtaining Prior Authorization
- Documentation and Record Keeping
- Updating the Medical Billing System
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The Invensis Advantage for Insurance Verification Outsourcing Services
Invensis - The Most Trusted Insurance Verification Services Company
Invensis is a seasoned medical insurance eligibility verification services provider assisting healthcare practices of all types and sizes. For over two decades, we've delivered every facet of insurance verification, from meticulous data entry to thorough verification checks and seamless coordination with insurance providers. Our solutions have consistently yielded remarkable outcomes, including a reduction of verification turnaround time by almost 50%, from an average of 48 hours to just 26-28 hours. Additionally, we have achieved up to 95% reduction in claim discrepancies resulting in a close to 35% decrease in claims delays and denials. With these achievements, we helped our clients with improved revenue cycles and financial stability.
- Improved Accuracy: Outsourcing insurance verification services ensures meticulous scrutiny of patient coverage details, reducing billing and leading to fewer claim denials.
- Enhanced Efficiency: Leveraging specialized teams for medical insurance eligibility verification streamlines workflow, accelerating the pre-authorization process, and allowing healthcare providers to focus on patient care without administrative burdens.
- Cost Savings: By outsourcing insurance verification, healthcare facilities can save on overhead costs associated with hiring and training in-house staff.
- Compliance Adherence: Professional insurance verification services ensure adherence to evolving healthcare regulations and insurance policies, meeting the demand for price transparency in the healthcare consumerism era.
- Accelerated Revenue Cycle: Efficient real-time insurance eligibility verification expedites the revenue cycle by swiftly confirming patient eligibility and coverage details, facilitating prompt billing and reimbursement, thereby improving cash flow for healthcare providers.
- Customized Solutions: Outsourcing medical insurance eligibility verification offers tailored solutions to meet specific needs, including real-time eligibility checks, customized reporting, and dedicated support, optimizing the revenue cycle management process for each healthcare provider.
- Improved Patient Satisfaction: Outsourcing insurance verification services provides patients with pre-visibility of their out-of-pocket expenses, enhancing transparency and reducing financial uncertainty. This proactive approach contributes to greater patient satisfaction and trust in the healthcare provider, fostering positive relationships and loyalty.
- Automation: AI-driven systems streamline insurance verification processes, reducing manual errors and improving efficiency in healthcare revenue cycle management.
- Real-time Verification: Integration of real-time data interfaces enables instant insurance validation, ensuring accurate coverage details and minimizing claim denials.
- Patient Engagement: Interactive platforms empower patients to verify insurance information online, enhancing transparency and expediting pre-authorization processes.
- Predictive Analytics: Insurance verification companies use advanced analytics to anticipate insurance coverage changes, allowing proactive adjustments in revenue cycle strategies to optimize reimbursement and minimize financial risks.
- Regulatory Compliance: Stringent compliance measures drive adoption of technology solutions ensuring adherence to HIPAA regulations and safeguarding patient data during insurance verification.
- Blockchain Integration: Blockchain technology enhances data security and integrity in insurance verification, enabling transparent and immutable record-keeping for improved trust and efficiency in RCM.
What Our Customers Say
Invensis has been a great partner providing quality medical coding and billing services. The team is extremely responsive to every query we pose, and the turn-around time for deliverables is always as committed.
Invensis has been our revenue cycle management healthcare outsourcing partner for the past 5 years. They have always delivered on their commitments, whether it is meeting our Service Level Agreement (SLA) or improving our billing process.
We have been working with Invensis for the past two years, and they have helped us overcome many revenue cycle management challenges. The team often walks the extra mile to ensure that our needs are met.
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