ClaimTrust Introduces New Insurance Eligibility Verification Solution for Healthcare Providers
Murfreesboro, Tennessee, December 15, 2010…ClaimTrust, a leading provider of revenue cycle tools and services for hospitals, today announced the availability of its newest product, InSight Eligibility, a web-based eligibility and benefit (E&B) verification solution that determines the status of a patient’s insurance eligibility within seconds. The simple, nearly instantaneous process provides a detailed account of a patient’s health coverage, allowing hospital staff to easily verify demographic information and understand patient responsibility for co-pays, co-insurance, and deductibles.
With secure access to E&B information for thousands of paye rs, InSight Eligibility can be used across multiple departments to improve revenue cycle performance and enhance operational efficiency. Using only the patient’s subscriber ID or name and date of birth, admissions staff can easily access comprehensive coverage status information at the point of registration, alleviating the need to verify insurance coverage by phone or by logging into multiple pay er websites. Streamlining a disjointed eligibility verification processes will lead to increased accuracy of claims submissions and faster collection of payment from pay ers.
InSight Eligibility maintains a complete history of every eligibility verification check performed at a given facility via its comprehensive tracking and reporting database. Using this solution, billing staff can more quickly and easily prioritize and respond to issues around patient accounts that do not meet eligibility requirements.
InSight Eligibility can also integrate with ClaimTrust InSight Medical Necessity, a tool that provides instant verification of medical necessity . Together, the two solutions offer comprehensive E&B information and the ability to review diagnosis and procedure codes against any pay er’s medical necessity rules, all in one step. This integration gives providers instant insight into whether planned procedures will meet all medical necessity and eligibility requirements.
“Eligibility denials often represent the single most common cause of lost revenue in healthcare organizations today. At ClaimTrust, we wanted to offer a solution that would streamline a traditionally cumbersome process and allow staff to determine a patient’s healthcare status immediately ,” Joe Ferro, President and CEO for ClaimTrust, explained. “InSight Eligibility will save time , avoid lost revenue and enhance cash flow. By integrating with InSight Medical Necessity, this solution enables hospitals to prevent eligibility and medical necessity denials at the same time using a combined interface that returns results faster than any other solution available today.”
InSight Eligibility and InSight Medical Necessity are part of ClaimTrust’s InSight Revenue Cycle Solution®, the first hospital revenue cycle system to offer customized solutions based on your facility’s denials. Other products in the InSight Revenue Cycle Solution Suite include InSight Payment Variance Analyzer, InSight Audit, InSight Denials and InSight Compliance.
