Improve Cash Flow with Real-time Insurance and Benefits Verification

As patients take more responsibility for their medical expenses, it's increasingly important for healthcare providers to verify patient eligibility and benefits coverage. Billing the wrong insurance carrier or not having correct patient co-insurance and deductible information can result in denials, delayed payment, increased billing and collection costs, and patient bad debt—all of which significantly impact the bottom line.

MPV Eligibility addresses these challenges by enabling provider groups, hospitals, laboratories and other healthcare organizations to electronically verify patient co-pay, benefit and deductible information at any point in the billing process via batch or real-time insurance checks with an extensive payer network. Through integration with a caregiver's workflow, MPV Eligibility allows users to quickly view normalized eligibility responses in a concise and consistent format; apply custom business rules and analytics to returned payer data; and receive notifications when edits or follow up are required.

Beyond the benefits of automation, MPV Eligibility's self-pay verification feature generates additional reimbursement opportunities by enabling users to match self-pay patients against Medicaid and Managed Medicaid databases and re-classify those that have coverage. With 83% of healthcare organizations reporting an increase in the number of self-pay patients they serve,¹ this important task will become increasingly vital to a caregiver's financial health. Our address verification functionality references a variety of databases to authenticate patient addresses. Armed with the results, provider groups can flag incorrect addresses in advance of an appointment, minimizing the hassle and expense associated with printing and mailing statements to invalid addresses.

Having access to the most up-to-date eligibility and benefits data also allows healthcare providers to produce more accurate patient financial estimates and better capture patient payments at the time of service using our patient kiosk, ultimately leading to enhanced revenue collection and improved patient satisfaction.

Additional benefits of MPV Eligibility include:

• Increased revenue
• Streamlined workflow through fewer phone calls to payers and searches on payer web sites
• Fewer claim rejections and denials
• Reduced registration, co-pay and billing errors
• Lower billing and collections costs
• Decreased A/R days
• Cleaner billing system data