How Healthcare Organizations Can Improve Their Insurance Verification Process
In the healthcare industry, accurate insurance verification is crucial for patient care and overall revenue. Despite its importance, many healthcare...
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A recent report by The Kaiser Family Foundation showed that claim denials are on the rise, with some plans reaching up to 80% in denials. Based on these findings, combined with a shifting payer mix, it’s estimated that 52% of patients will have government insurance by 2028. Therefore, it’s crucial for healthcare institutions to establish a thorough insurance discovery process to ensure they don’t leave money on the table. Although your institution won’t be able to uncover all payment opportunities, most of them can be uncovered through a rigorous insurance discovery process. Below are four tips to make sure your organization’s internal process is comprehensive and effective.
How an insurance discovery partner can improve your process
FinThrive is a healthcare revenue management software-as-a-service (SaaS) provider with the industry's most comprehensive end-to-end revenue management platform. Recently, we announced our new automation capabilities that work with your insurance discovery solution to examine 100% of found coverage. Our enhanced solution updates primary and secondary insurer information within your health system's EHR and automatically rebills the correct insurer for reimbursement when appropriate.
For more ways to maximize your insurance discovery findings, download our guide. Then learn more about FinThrive’s new intelligent insurance discovery solution.
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