RCM Starts with Verification of Benefits
The first step in the revenue cycle process is verification of benefits (VOB). Verification of benefits is essential for behavioral health facilities to ensure that patients receive the appropriate care and that the facility is reimbursed for their services.We verify benefits so that we can ensure reimbursement to the behavioral health providers we bill for. We use the process to check each patient’s current/active insurance coverage and benefits with an insurance company before various procedures. Those procedures may lead to billing issues without prior authorization.
Confirming Patient’s Insurance Coverage + Determining Extent of Benefits
In order to ensure that individuals receive the care they need, it’s essential to verify that their insurance or other benefit coverage will pay for the services they require. Verification of benefits can help avoid potential problems and ensure that individuals receive the best possible care. It’s also important to note that verifying benefits helps individuals understand the full scope of their coverage. They can also note any out-of-pocket expenses they may incur. Knowing this information up front can help prevent surprises and make the process of obtaining care much smoother.
Patients are shocked when they end up receiving services that are not covered by their insurance. This leads to unexpected out-of-pocket expenses. This can cause financial strain and hinder access to necessary care. Insurance companies will let us know any limitations or restrictions on coverage and the patient’s financial responsibility. When behavioral health facilities understand the extent of a patient’s coverage, the providers can tailor their treatment plans accordingly.
The front desk of a behavioral health facility should verify the right information while checking the data of its patients. That valuable information includes the insurance ID, phone number, insured name and their relationship, policy date, and amount. There are certainly some challenges and risks involved in verification of benefits. You may run into issues with inaccurate or outdated information, complex payer policies, and lengthy manual processes. Integrity Billing looks at all this and sees how to make the process most time efficient as well as cost effective while avoiding more disputes with insurance companies.
The experienced staff at Integrity Billing can help with VOB by using advanced technology. We have proven methods to verify the patient’s eligibility, benefits, and coverage for the services they need. We do the back and forth communication needed with the patient’s insurance company to get the necessary information and avoid delays. A survey by the American Medical Association found that 50% of physicians believe time spent navigating insurance prior authorizations is the most significant contributor to patient care delays, making it essential for facilities to prioritize accurate verification of benefits to prevent potential delays.
Your Choice for Billing Solutions
Outsourcing VOB to Integrity Billing Company provides several benefits for your behavioral health facility. These include improved accuracy and efficiency. According to data from industry experts, behavioral health facilities can see an increase of up to 15% in reimbursements when they prioritize accurate verification of benefits before treatment. Utilizing Integrity Billing Company as your medical billing and revenue cycle management company can streamline the process, making it easier to confirm coverage and understand patients’ financial responsibilities. By prioritizing verification of benefits, behavioral health facilities can provide the best care possible while avoiding costly mistakes. Say yes to increased revenue.
