Ambulance Services companies play a crucial role in providing Emergency Medical Services (EMS) to patients in need of out-of-hospital acute medical care and or transport to definitive care. However, one of the biggest challenges they face is identifying their patient's insurance coverage and determining coverage hierarchy when multiple coverages are there. This is where insurance discovery comes into play. Discovering active coverages and routing your ambulance claims to appropriate payer will help EMS agency improve performance and increase revenue.
Insurance discovery is the process of discovering unidentified Active Coverages along with Coordination of Benefits after verifying Eligibility and Benefits with Federal and Commercial payers with the limited patient demographic details. This process involves collecting information about the patient's insurance policy, including the insurance carrier's name, policy number, group number, subscriber information when the patient is different from Policy holder and COB order when multiple coverages come into picture.
Challenges Faced by Ambulance Services Companies/EMS Agencies in Identifying Patient's Insurance
Identifying patient's insurance coverage can be a complex and time-consuming process for ambulance services companies / EMS agencies. Some of the common challenges they face include:
Limited Access to Information: Ambulance services companies / EMS agencies may not always have access to their patient's insurance information, particularly if the patient is unconscious or unable to provide the information themselves.
Billing Errors: Mistakes in billing can result in delayed payments or even denied claims. Ambulance services companies must ensure that they are submitting accurate claims to appropriate insurance carriers to minimize the risk of errors.
How Insurance Discovery Can Help Ambulance Services Companies
Insurance discovery can help ambulance services companies to overcome the above challenges and improve their billing processes in several ways:
Improved Efficiency: By collecting insurance information at the point of service, ambulance services companies / EMS agencies can speed up the billing process and reduce risk of delayed payments by ensuring the highest level of compassion and care for all patients.
Increased Reimbursement: Insurance discovery can help ambulance services companies / EMS agencies identify the patient's coverage and maximize their reimbursement for services provided.
Reduced Billing Errors: By ensuring that they have accurate insurance information and submitting claims promptly, ambulance services companies / EMS agencies can reduce the risk of billing errors and denied claims.
Insurance discovery is a critical component of ambulance billing that can help ambulance services companies / EMS agencies overcome common challenges and improve their billing processes. By collecting accurate insurance information and submitting claims promptly, ambulance services companies / EMS agencies can increase their reimbursement and provide better care to their patients.
Contact us today to learn about our insurance discovery solution and how we can help.