Firstsource Healthcare Cloud: Insurance Verification
Verify insurance coverage in real time
Reduce denials and protect revenue
Electronically confirm payer coverage and benefits
Nearly 50% of patients say that a clear estimate of financial responsibility will impact whether they will see a particular Provider or not, and 70% of patients are more likely to pay if they receive an estimate on the day of service.
Firstsource’s Healthcare Cloud: Insurance Verification Services enable real-time or batch verification, claim status monitoring and fraud mitigation. The solution checks the status of your patient’s deductibles and co-pays based on their coverage – across the billing process – from scheduling and pre-registration to registration and discharge.
With robust features such as real-time processing, HIS integration and 24/7 support, the solution seamlessly integrates with your EHR and EMR systems for enhanced decision making and superior financial outcomes.
Uses exception-based error detection to identify costly errors early on and reduce rework and front-end related denials
Reduces upfront denials using patient address validation, patient identity and insurance verification
Complies with price transparency regulations and improves patient satisfaction with accurate out-of-pocket cost estimates
Increase in POS cash collections six months from go live
Reduction in no-shows and cancellation rates
Personalized bill estimate accuracy
Reduction in in-person registration time
See how we bring it all together
The holistic Firstsource solution includes an entire stack of digital-first patient engagement and Eligibility and Enrollment solutions. They are designed to uncover missing patient information and enhance engagement with patients across their journey, dramatically improving patient satisfaction as well as financial performance for hospitals.