What is Automated Insurance Verification (AIV)?

Automated Insurance Verification is a process by which insurance coverage and eligibility are verified electronically through automated systems, typically integrated with healthcare provider software or billing systems. This process replaces traditional manual methods of verifying insurance coverage, which can be time-consuming and prone to errors.

Here's how AIV streamlines your verification efforts:

We format large data files from your system and import them into our system. We work with you to enter bulk requests rather than entering individual requests... Patient information such as name, date of birth, insurance ID, and other relevant details are input into the system.

Rather than paying staff for the inefficient process of calling insurance companies or using their portals, our software submits the requests electronically to the insurance companies at a fraction of the cost... The information is transmitted electronically to the insurance company or payer.

‍Our software receives responses from the insurance companies, and we format the responses into a simple format that your staff can process into your existing systems... The insurance company's database is queried to verify the patient's coverage, benefits, and eligibility for the specific service or procedure requested.

‍Our software processes these requests at a speed that is not humanly possible to replicate... The insurance company's response, which includes details about coverage, co-pays, deductibles, and any other relevant information, is received and processed by the automated system. Responses from insurance companies are typically about 3 seconds or about 20 patients per minute.

Your search requests are archived and placed in a format for your staff to take immediate action on your discovered results... Your practice receives the verification results, which are then used to determine the patient's financial responsibility and to process claims accurately.

Automated Insurance Verification offers several advantages over manual methods, including:

‍Efficiency: It significantly reduces the time and effort required to verify insurance coverage, enabling faster processing of patient visits and claims.

‍Accuracy: Automation minimizes the risk of errors associated with manual data entry and verification processes.

‍Real-time Information: Providers can access up-to-date information on patient coverage and eligibility, allowing for more informed decision-making.

‍Improved Workflow: Integration with existing healthcare systems streamlines administrative tasks and enhances overall workflow efficiency.Overall, Automated Insurance Verification helps healthcare providers streamline their operations, improve billing accuracy, and enhance the patient experience by reducing wait times and administrative hassles related to insurance verification.

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