Why Insurance Verification is Important

Verifying your patients’ benefits is one of the most important, if not the most important, step in accepting insurance. Below are the 5 reasons verification of benefits is very important in order to have a successful practice.

1) Accurate RCM and Billing

If eligibility is not done correctly it can lead to incorrect billing and in turn a loss of revenue.

2) Avoid Appeals

Appeals are an administrative burden on staff. On average, appeals cost $118 per claim.

3) Prevent Claim Denials

If eligibility is not done correctly, it will lead to claim denials which even after appeals can lead to claims that are uncollectible. Over 25% of claim denials are due to preventable errors in verifying patient benefits.

4) Happier Patients

Providing benefits information to patients helps your clinic reassure patients on what they owe. It also allows them to feel comfortable with you and your clinic. Transparency in pricing is one of the biggest concerns that patients have when they go see a doctor.

5) Happier Staff

Verifying patient benefits is very stressful on your staff. They have to learn how to do them, know what questions to ask payers when they call, know how to interpret benefits and feel pressure to get the benefits check right otherwise they know the clinic won’t get paid. Hiring an expert who knows how to do verifications or outsourcing verifications to One Body will lead to happier staff.

If you need help with verifying your patients’ benefits, please contact One Body at hello@onebodywellness.com. One Body has 30+ years experience verifying benefits for clinics.