Increase front desk revenue, step 3 of 5
Independent practice physicians care about two things when it comes to their practice: patient care and the financial health of their practices. Many physicians go into business for themselves because they want to be independent, and one of the biggest ways to ensure that your practice stays independent is the ability to maximize your revenue stream.
Your front office staff has a great opportunity to lock in revenue when scheduling appointments. Take advantage of the face-to-face time to quickly and efficiently boost your income potential. Here’s number three of five ways to increase your revenue when scheduling patient appointments at check-in or checkout.
Step #3 Verify insurance coverage.
When scheduling patient appointments, take the time to verify their insurance information so you won’t miss out on revenue if there’s a lack of coverage. Medical practices that take a strategic approach to their insurance billing can gain multiple benefits, from increased collections and few claims rejections, to lower operational costs.3
Practice management software that automatically checks eligibility and confirms insurance coverage before each appointment can save your front office staff time chasing down the information. The best tools provide a fully integrated approach so that staff can check insurance eligibility at the same time they schedule an appointment. To avoid lack of coverage denials (the single largest reason for denying claims) and maximize your efficiency, use eligibility verification technology that allows your practice to confirm patient insurance in batches. Eligibility verification has been identified as a key feature to include on any revenue cycle management checklist.4 With insurance eligibility information at your fingertips, you’ll never lose out on revenue because you didn’t know more about your patients’ insurance coverage.
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