Insurance authorization, or prior authorization as it is sometimes referred to, is the process of approval of health insurance plan for certain services before they are offered to patients, except in the case of emergencies. This forms a vital part of the medical billing professional’s job. The health service provider being eligible for payment only upon getting pre-approval of insurance companies, this process is crucial to the financial stability of the practice as well.
Significance of Real Time Insurance Authorization
Patient Insurance authorization and verification play a crucial role in a medical facility’s denial management process. It costs hefty amount of money to fight with payers over insurance authorizations. Failure to perform proper pre-authorization involves losing precious hours of productivity as well.
Insurance authorization, when not performed efficiently and in a timely manner, may cause physicians loss of a large sum of revenues and a great number of hours of lost productivity.
The Process of Insurance Authorization
Insurance authorization process involves getting prior written approval from the insurance company for specific treatment, covered services, and durable medical equipment and supplies prior to using them.
Insurance authorization helps in determining and approving payment from insurance providers for the services as under:
- Specific number of visits, or the specific duration of time for which the care is needed to be provided
- Specific type of care and its extent, and essential medical equipment and supplies
- Specific care provider who provides the medical service
Practices or physicians failing to obtain prior authorization from insurance companies may have to face non-coverage for the services or supplies.
Role of Insurance Authorization Service Providers
Insurance Authorization Service Companies help medical practices in reducing their staff’s burden of performing endless tasks for verifying patients’ insurance benefits and eligibility. By partnering with skilled insurance authorization service providers, physicians may gain precious time for focusing on their patients’ care.
Outstanding Insurance Authorization Solutions from Rapid Care
Rapid Care Transcription Pvt Ltd is the pioneer in providing health information technology services to physicians and health care facilities in the USA and the UK. Our insurance authorization solutions act as indispensable tools that help increase your practice productivity.
We assist you to maintain all your insurance authorization records in electronic format. Our services cover but are not limited to the following:
- Submission of insurance authorization requests to all health insurance carriers
- Coordinating communication and all essential formalities with insurance companies
- Follow up and expedite results of the prior authorization requests
- Assistance in completing claims processing
- Comprehensive guidance in all matters related to insurance authorization
If you are looking for a smart way that offers the twin advantages of gaining more time for patient care while being ensured that you are covered fully for payment toward services rendered, you may outsource your insurance authorization task to Rapid Care.
We relieve physicians and medical professionals from having to spend frustrating hours on health insurance verification and authorization processes. Visit our website www.rapidcare.net for more details.