Importance of Eligilibility in Denial Management
Oct 20, 2020
Every denial received on a claim billed to payer, essentially is a revenue leak. Denials can be appealed and appeals prove to be very costly for providers. One of the predominant amongst denials that stands out is the Eligibility denial.
Few simple steps and precautions can save you a lot if we can just fix this one denial. The very first step to begin with is the eligibility check in itself.
At Clarus the team has the knowledge on the leading causes of Denials and works through these most efficiently to prevent the revenue leaks even before they occur. Pertaining to the Eligibility we conduct the checks at a very granular level where we:
Obtain Complete and Accurate Demo Graphics Information
Obtain the complete Insurance information
Obtain the COB information pertaining to the insurance
Verify the applicable Insurance Benefits
Ensure the policy is in Active reimbursable status.
Identify the Uninsured individuals at the time of Scheduling
Obtain information of the Guarantor for Financials
Determine the Patient's estimated responsibility.
With the above said and done, the providers achieve :
Zero Denials pertaining to Eligibility
Positive patient reviews
Estimated amount of patient dues
Improves Point of Service Collections
Reduction in financial risk
Reduces Patient wait times and paperwork pertaining to Demographics and Eligibility
The above approach at Clarus helps the providers eliminate many interlinked Denials with Eligibility such as
Benefits Maxed out
Services not Covered per patient plan
COB not on file/ Not Updated
ABN is not on file for Medicare Beneficiaries
Demographic information related Rejections
Authorization Criteria not met
And if the above are getting tackled, don’t you think you will see an reduction in your denial rate?