Did you know that before the pandemic, Medicare only covered telemedicine for rural patients? With the telehealth services growing more popular as patients tried to practice social distancing, many insurance providers failed to provide these visits in their plans.
During the pandemic, 1 in 4 Medicare beneficiaries attended a telehealth visit, and many were unsure if their insurance would cover the costs.
Q2 2022 hedge fund letters, conferences and more
Find A Qualified Financial Advisor
Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now.
17% of patients aren’t sure if their insurance provider will cover remote care, yet 74% are interested in using telehealth services. This means many patients will still schedule telehealth visits and provide their insurance information, even though their plan may not cover the costs.
Telehealth providers do not have front office staff to help verify insurance coverage, and many providers aren’t used to managing insurance verification themselves. This can lead to unverified insurance information being accepted and leading to more problems after the visit.
Unverified insurance information can lead to claim errors which wastes more than $17 billion each year. What’s more, providers can lose up to $30 billion from error-ridden work, and patients can lose more than $16 billion in savings.
Aside from wasted money each year, having to confirm and correct mistakes on insurance claims is time consuming and can take office staff away from other important tasks in their day.
To correct errors, office staff often have to call payers or visit insurance websites which can be very time consuming and may not provide all the information that is needed. While manual processes can be frustrating for medical office staff, there is a solution.
The Benefits Of Health Insurance Card Scan Technology
Many offices are transitioning to AI-powered automated solutions. Health insurance card scan technology has improved and is changing the industry. One of these solutions handles all insurance collection and verification to reduce the need for manual input.
This technology is much more accurate than human input, and can greatly reduce the amount of errors on insurance forms. These applications also verify insurance information in real time so patients and providers know exactly what their plan covers and patients can even receive real time estimates for their price estimates.
With more patients opting for telehealth visits, automated insurance collection and verification solutions can help them and their providers understand the benefits included in their insurance plans.
Patients can be sure they are aware of all costs of their visits and won’t be surprised by finding out weeks later they didn’t have coverage for their visits. You can learn more about the many benefits of automated processes on the medical field in the infographic below:
Source: OrbitHC
