Maximize Hospital Revenue with a Holistic Insurance Discovery Strategy

Released: Sep 22, 2023 |

Length: 6 pages |

Language: English |

Resource: Whitepaper

To stay in the black, hospitals need to capitalize on every opportunity to capture hidden revenue on the back end. The traditional method for identifying insurance coverage missed at the point-of-service involves using internal resources to track down revenue that would have otherwise been lost to bad debt.

Now, many are taking their bad debt recovery and reimbursement efforts one step further by using external vendors that specialize in uncovering missed insurance on their self-pay patients — those which must pay the full balance for services rendered.

They also give proper attention to self-pay after insurance patients who owe money to a provider after a plan pays its portion of the bill. Yet, this still isn’t enough.

Work email *

First Name *

Last Name *

Job Title *

Company Name *

Phone *

Address Line 1 *

City *

Zip/Postcode *

Country *

Industry *

Company Size *

What do you hope to achieve once the Insurance Discovery Software solution is in place in the next 12 months? *

Obtain detailed, accurate coverage information in seconds

Identify unknown patient coverage before patients even see their provider

Seize revenue opportunities from underinsured and self-pay accounts

Ensure claims are sent to every applicable group

Maximize reimbursements

Easily identify all applicable coverage primary and secondary, public, or commercial the lifecycle of each claim

Increase the speed of revenue capture

Identify more complex cases with multiple commercial and government payers

Reduce uncompensated care and underpayments

Verify a patient ahead of time or during their procedure

Simplify the intake process

Ensure reimbursement across hospitals, home health agencies, SNFs, etc.

Find active payers with coverage discovery software before going to collections

None of the above

What Insurance Discovery Software challenges are you currently experiencing? *

Reducing revenue loss due to unknown and missing insurance information

Manual insurance discovery methods

Verifying demographic information

Identifying every applicable payer for every patient

Improving collections process

Ensuring every applicable payer is identified for a claim

Reducing reimbursement delays

Improving the efficiency of the front office workflow

Increasing patient satisfaction

Reducing time spent re-working inaccurate claims

Improving cost-to-collect ratios

Sending claims to the right payers on first submission

Inaccurate coverage information

Finding active primary, secondary, and tertiary coverage for self-pay accounts

None of the above

What vendors are you currently considering? *

What stage of the budget process are you in? *

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