Reduce Costs by Automating Insurance Verification

 

It is widely accepted by healthcare providers that insurance eligibility drives revenue. The Healthcare Financial Management Association (HFMA) has recently published information indicating that the automation of insurance verification processes actually REDUCES costs as well.

 

In a recent HFMA NEWS article, HFMA has indicated that "the use of automated systems to verify patient insurance eligibility and benefits information could significantly reduce administrative costs."

 

Benefit eligibility verification is a time consuming and expensive process for providers and payers alike.

 

The patient’s insurance cards are photocopied and the insurance company’s 800 number is called to determine eligibility status. Callers must usually deal with busy signals and a long waiting time for assistance. Subsequently, manual transcription of data is necessary, all amounting to a less than effective use of a provider's office staff.

 

The payer’s administrative burden is equally cumbersome, since phones must be staffed to provide the information as calls are received.

"Verifying insurance coverage with automated transactions can save up to 50%" - Healthcare Financial Management Association

 

The PASHealth POS terminal and web portal enables the payer’s office to access this information via a swipe card or a data entry procedure. In as few as 20 seconds the system produces a complete printout verifying coverage and providing all pertinent patient information such as co-pay, deductible and PCP.

 

PASHealth is currently electronic with 450 major insurance carriers and plans for instant verification and is constantly adding new carriers.

Automate Patient Verification Processes with the PASHealth Transaction System:

 

Patient Access Solutions (PASHEALTH) has proven eligibility verification solutions to ensure an accurate assessment of patient benefits coverage for timely reimbursement.

 

Our PASHEALTH applications (either IP or Dial-Up) allow providers to automate the patient registration process with real-time patient eligibility data.

 

Returned eligibility and benefit information can then be manually posted directly into the appropriate fields within the insurance segment of the patient's account or automatically populated through the patient registration form on the PAS Web Portal.

 

    Money - Travel

 

A recent Milliman study* reported that the average physician could save $42,000 by automating eligibility and claims processing. By automating these key reimbursement cycle steps with the Patient Access Solutions Terminal  and Web Portal and D-PAS programs, providers can do far more than just save money: our solutions work together to increase up-front collections and reduce errors to increase first-pass acceptance rates.

 

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