Verification of benefits is the process of gaining information regarding a members’ insurance coverage. It helps to alleviate patient financial surprises, increase revenue and may be used to address appeals.
Verify active medical coverage with a payor to avoid unpaid services and increase revenue.
Verifications of benefits allows practices to proactively make patient payment arrangements and streamline a payor workflow. Minimize claim denials, increase cash collections with up to date insurances verification. Verifying benefits will reduce rejected claims, days in accounts receivable and hours of follow up.
It is essential for every practice to verify who is going to pay for services. However, nowadays you need to not only know who the payor is but also the difference between types of commercial providers, their affiliations and kind of coverage. Let Altos ask the right questions and ensure you don’t lose opportunities due to an inefficient VOB Process.