ELIGIBILITY & BENEFITS VERIFICATION
Freyer Solutions prevents missed revenue opportunities by providing services such as insurance verification and pre-authorizations to prevent claim denials.
At Freyer Solutions, let us handle the time consuming collecting information on a patient’s eligibility prior to a medical service. With Global handling your research, collecting dates of coverage, copays and deductible information, you’ll save valuable time and reduce back office costs.
Most of the offices do not have enough time to carry out the verification process or their staffs are not skilled enough to handle this efficiently. Little do they know that this can lead to situation where you don’t get paid for the services you provided. Out of all the practices we took over most of them had a higher patient AR than the standards resulting in a lot of bad debts. Some of our clients, before they approached us, have even considered selling their practice to bigger networks because they were finding it hard to break even. When we gave them a practice analysis they were surprised that if the numbers on the patient balance were collected they would have made profits.
We help you eliminate the losses as we work on your schedule every day to see the patients you see have their insurance active and what exactly do they owe you for the visit. Sometimes it is not just the co-pay. They may have a deductible that is not met, so it is very important that you know what to collect to avoid bad debts at the end of the day. For the service you offer we know you definitely don’t deserve to have losses.
Advantages of Insurance Verification
- Increase point of service collections (Co-pays, Out Of Pocket, etc.)
- Improves efficiency of revenue cycle
- Decrease claim denials due to no coverage
- Reduce risk factors
- Enhanced patients experience
- Simplifies workflow
- Reduced rework of claims
- Decreased account receivables days
- Alerts about self-pay patients
How Freyer Solutions will do it?
Freyer Solutions executives will access the patient’s insurance information from the appointment schedule of next day or the practice can choose to email it in secure file format.
We also verify specific benefits or details when requested by the provider.
In case the coverage is terminated or the service is not covered, the patient is called and informed about the same, and asked for any alternative insurance coverage.
Depending on the insurance payer, we will verify benefits and eligibility through websites, Automated Voice Response System and calling the Customer support center.
The detailed information will be punched in the individual patient’s account in form of notes.
A detailed daily report is also sent to the practice manager with notes of all the patient’s verified.
We can verify more or less from these information while verifying insurance depending on the specialty of the provider:
Our eligibility check covers the following:
- Policy status for date of service
- Policy effective date
- Co-pay / Coinsurance / deductibles/ OOP
- Payable benefits
- Type of plan and coverage details
- Plan exclusion or exceptions
- Provider status (INN / OON)
- Authorization requirement
- Diligent follow-up till resolution and closure
- Uniform importance given to every account irrespective of size, age or claim value
- Fast completion of authorization process
- Periodic follow-ups to maintain authorization validity