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These are critical as the initial step in the medical billing process. Insurance companies frequently update their policies and health plans, making it essential for us to verify whether a patient is covered under the latest plan. Ensuring that health insurance coverage criteria are met during the first claim submission is crucial; failure to do so can lead to issues such as claim adjustments, increased errors, delays, and potential claim denials.

We verify patients' insurance coverage and benefits by contacting their payer directly via phone or web portal.

Once accurate details are confirmed, update the PMS with verified information, including member ID, primary and secondary payer details, and the patient's plan specifics such as policy effective and termination dates, cap limits, copay, deductible, co-insurance, and other benefit levels, along with maximum allowable limitations per their policies allowance.

Our revenue cycle optimization services help you improve your financial performance and increase revenue. 

It's essential for all professionals and physicians to follow proper coding and billing practices. We will ensure that EHR systems are up-to-date and provide training on the process, enabling users to apply the correct ICD-10 codes. Given the complexity of the coding system, experienced experts like Lucrative Financial Billing are crucial for processing claims accurately on the first submission.

We have developed specific procedures to achieve accurate billing to ensure our providers are paid correctly. Precise data entry is essential for reimbursement payments. We implement control measures, such as auditing and reconciliation, to ensure that diagnosis codes, treatment codes, and services are correctly billed to all of the insurance companies.

Accurate claims and information processing are fundamental to coding and billing. Ensuring that claims are accepted for reimbursement, rather than denied, is essential. Accurate data entry and timely claim submission will lead to a higher acceptance rate. Lastly, getting a receipt is vital for the business presence and claim denials may be informed by payers through ERA/EOB. 

 We reduce your lead time and ensure accurate, efficient claims processing. As a healthcare provider, tasks like submissions, correcting errors, and resolving claims can consume valuable resources and time. We provide dedicated experts to handle your billing, coding, and reimbursement processes. We can optimize your A/R. We got you covered.