eClaimStatus

Revenue Cycle Management KPIs: A Glossary KPIs or key performance indicators in revenue cycle management are of immense importance to running a successful medical business.   These KPIs help with monitoring the finances, measuring the speed of patient insurance verification, and identifying areas of improvement.   Check out the most used KPIs in RCM!   #HealthCare #MedicalBilling #eClaimStatus #revenuecyclemangment

How Blockchain is Changing Insurance verification Blockchain is transforming every industry and Insurance is no exception!   Traditionally, insurance verification is slow, error-prone, and vulnerable to fraudulent activities. But imagine if you could process claims instantly, with complete transparency and security. That’s the promise of Blockchain technology!   Blockchain is changing the healthcare revenue cycle management, by streamlining the insurance verification and claims processing.   How’s this achieved?   ●      Enhanced transparency: Immutable records and shared data across stakeholders ensure everyone is on the same page, reducing errors and discrepancies. ●      Fraud prevention: With Blockchain, real-time verification prevents double claims, and smart contracts ensure that the terms are met automatically, reducing frauds. ●      Faster claim processing: Say goodbye to the long waiting times! Automated verification and efficient recordkeeping makes the claim process faster, leading to quicker payments. ●      Global compliance: Blockchain’s capability to seamlessly manage cross-border verifications ensures your RCM process meets global regulatory standards.   With healthcare providers and organizations feeling the heat of managing their revenue cycles, adapting blockchain technology makes the process more efficient, faster, secure, and transparent.   #healthcare #blockchain #revenuecyclemanagement #eclaimstatus #verification #healthinsurance

40% of mental health insurance claims are denied! Are you in the same boat? Here’s what you can do!   Unlike general healthcare, mental healthcare is riddled with challenges. Added to this are the complexities of mental health insurance verifications, and the higher percentage of claim denials, significantly impacting your bottomline.   What are the added complexities? ➢   Complex Benefits Structure: Not all insurance plans offer the same level of coverage for mental healthcare. ➢   Rigorous Authorization Requirements: The lengthy and often denied pre-authorizations for even the simplest routine is time and resource intensive. ➢   Narrow Provider Network: Coverage for specialized care is very limited, forcing patients to seek care outside their insurance. ➢   High Denial Rates: Complex coding, documentation, and benefit issues increase the denial rates. ➢   Manual Process: Paperwork, phone calls, and numerous follow-ups eat into the provider’s time.   This can be overwhelming for mental health providers!   Your Solution: eclaimStatus Our software solution streamlines your revenue cycle management. ➢   Real-time insurance verification ➢   Automated authorization ➢   Claim status monitoring ➢   Reduced administrative workload   You focus on patient care, while we ensure that you get paid for the service you offer. #eclaimStatus #mentalhealth #insurance #Healthcare #finance #RevenueCycleManagement 

Ever wondered how healthcare providers capture every detail of an injury?   #ICD-10 codes are crucial for this!   They ensure that even the most unique incidents are recorded accurately, from routine cases to extraordinary events. This precision helps healthcare professionals and insurance companies deliver accurate diagnoses and coverage, no matter how uncommon the situation is !   #medicalcoding #healthcareprecision #eclaimStatus

6 Reasons Why Your Claims Are Denied Claims Denied? Here’s What You Need to Know!   Facing denied insurance claims can be frustrating and costly. But understanding the root causes can make all the difference.   From incomplete information to policy exclusions, these common claim submission pitfalls can easily trip you up.   Curious to know about the top 6 reasons behind claim denials and how you can solve them? Swipe through our latest post below for more insights and keep your claims on track!   #InsuranceClaims #ClaimDenials #eClaimStatus #MedicalBilling #RiskManagement #ClaimsApproval

Did you know that eClaimStatus helped reduce claim denials by 50% for a top-ranked mental health provider?   If you’re running a healthcare service, you might have battled against claim denials and revenue losses. So did one of our California-based clients.   Facing mounting claim denials due to insurance verification and claim submission issues, they needed a game-changer.   Enter eClaimStatus - the innovative solution they needed to transform their revenue cycle. By using this solution, they saw denials plummet by more than 50%   To gain more insights on how eClaimStatus helped our client achieve that, check out our mini-blog and contact us today to revolutionize healthcare billing for your practice. (add link)   #MedicalBilling #eClaimStatus #HealthCareInnovation #RevenueCycleManagement #RCM #ClaimDenials

Curious to know how you can easily retrieve key patient information from insurance discovery?   Unlocking efficiency in insurance discovery just got easier. With eClaim, you can obtain comprehensive insurance details of your patients by just entering basic patient information.   Are you ready to take your reimbursement process to the next level?     #InsuranceDiscovery #ClaimsManagement #eClaimStatus #HealthCare #Automation #HealthTech

3 reasons why you should integrate insurance discovery software in your healthcare systems. ●     Verifies patient demographics and identifies undisclosed coverages ●     Reduces uncompensated care by discovering Active coverages with COB ●     Boosts patient's overall experience by reducing their financial stress With the eClaimStatus insurance discovery feature, you can finally relax and not endure the constant follow-up calls or lose revenue. It can be easily integrated with various healthcare services like hospitals, clinical laboratories, radiology, emergency room, and more. To get deeper insights into how the software works and the features it possesses, click here: #eClaimStatus #Insurancediscovery #Healthcare #RevenueManagement #Insurance

Denials cost each hospital an average of $4.9 million annually! Are you one of them?   Insurance Verification and Claim status Automation Solutions can help.   But, with the market being flooded with RCM Software Solutions, you should be cautious about choosing the right one. Because, it helps you manage your revenue cycle, and hence, affects your bottom line.   What happens if you do not choose the right solution? ➢   Financial loss ➢   Operational disruptions ➢   Data security and non-compliance risks ➢   Patient care quality issues ➢   Reduced revenue Investing time in evaluating your choices and asking the right questions can help you avoid financial, operational, and legal pitfalls.   You deserve the best Insurance Verification and Claim Status Solution! Contact eClaimStatus for a free trial.   #InsuranceClaims #ClaimManagement #InsuranceVerification #RevenueCycleanagement #eClaimStatus

Insurance Verification is Time-consuming, resource-intensive, and error-prone!   But, it doesn’t have to be so! eClaimStatus can complete the task in seconds with utmost accuracy. It can streamline the insurance verification process, save time, and boost revenue.   Watch the video to learn how.   #insurance #InsuranceVerification #eClaimStatus # healthcare #RevenueCycleManagement