Checklist: How to Optimize Insurance Claims Management to Get Paid Faster
The healthcare industry is full of complex processes but one of the most critical is the insurance claims process and doing what it takes to ensure you’re getting paid quickly by insurance companies. It can be a struggle to keep up with so many claims happening all at once, especially when balancing administrative tasks and patient care.
How to Optimize the Claims Management Process to Get Paid by Insurance Companies Faster
In this checklist, you’ll discover some of the ways that modern business technology can help healthcare organizations get paid faster by insurance companies.
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Digitize Patient Documents
Digitizing the collection and storage of patient documents is a boon for healthcare organizations in many unique ways.
First and foremost, it makes accessing these documents faster and easier by making them accessible from anywhere at any time, giving employees an easier way to find things they need. This helps speed up the insurance claims process by reducing the time it takes to pull information and limiting the risks of losing or damaging documents.
In addition, digital documents are safer as they sit behind security measures like data backups, access management, password protection, restricted equipment access, and more. Plus, it removes the need for rooms full of storage cabinets.
Benefits of Digital Documents
- Easier and faster access to patient records for insurance claim submissions
- More secure storage of sensitive files
- Reduced clutter and waste of necessary physical space
Streamline the Patient Onboarding Process
Data collection, and the insurance claim preparation process, start with onboarding a patient into your system. Automated workflows can be established to ensure all documents are accounted for before a patient even steps foot in the door. This way you’re never left missing a key piece of information or an important document which can drastically slow down the claim process.
Additionally, this makes for a smoother patient experience as they can upload their documents digitally and are safe from having to find additional documentation after their appointment.
Benefits of Streamlined Onboarding
- Assurance that all documentation is collected
- Improved patient experience
Automate Claims for Faster Processing
The insurance claim submission process can be automated to help speed things up while eliminating errors caused by human input, and lowering the overall costs associated with having to submit multiple claims or having team members dedicate too much time inputting data.
With automation, the software can take over these processes by organizing and gathering the necessary information and inputting it correctly into forms. Everything from data entry to claims processing can be handed over from people to robots for a faster, cheaper, and more accurate overall process.
This also improves the overall patient experience by reducing the time it takes to process a claim, increasing access to their bill, and by giving them the ability to make any payments online from anywhere.
Benefits of Automating the Claims Processes
- Reduced operating costs by lowering re-processing or duplicate claims
- Reduced errors in claim submission to reduce denials based on missing or incorrect information
- Faster claim processing with automated data input
- Better patient experience
Automated Follow-Ups to Insurance Companies
Clinics and doctor’s offices are busy places and staff members are often pulled in multiple directions trying to balance paperwork, patient onboarding, patient care, and standard office duties like organization, reporting, filing, and more.
Though claims often get sent on time, the follow-up process can easily lag behind or be forgotten about, leaving claims left unchecked as insurance companies drag their feet, call a claim a ‘duplicate,’ and hope the healthcare companies simply forget about it.
Implementing automation and other technologies into this process ensures that claims are followed up by running automatic reports on older, unprocessed claims to keep them from falling between the cracks.
Benefits of Automating Insurance Follow-Ups
- Increased free time for clinic staff
- Automated status reports on existing claims
- Removed chances of forgotten claims
- Consistent and automatic communication with insurance companies
Learn more about automation and other business technology innovations and how they can help healthcare organizations streamline their processes at impactmybiz.com.