If you thought patient debt was already high, it is about to get worse. In 2010, patient debt was $65 billion dollars, but it is projected to rise to $200 billion in 2019. Between employers offering higher deductible plans and 10-15% of claims being denied, patients can’t pay their bills – and medical facilities can’t collect payment.
At times there are errors in collecting patient information, which leads to insurance companies denying claims. But by improving both eligibility and authorization requests, requests can be processed without error and on-time.
Because patient information and authorization data is entered in manually, mistakes and typos are bound to happen. But by using TigerText to record the information, the correct information is gathered the first time.
By taking these proactive approaches to eligibility and authorization requests, healthcare providers can use screening tools to assess a patient’s financial responsibility estimate, and then set up patients with financial counselors to work out a payment plan when necessary. Less claims are denied, and patients see a decrease in debt.
Moreover, by driving improvements in understanding eligibility and benefit requirements, healthcare organizations can improve the costly process associated with retrospective reviews and requests for appeals for denied claims.