December 5, 2008 – MedCurrent Corp., a provider of healthcare practice management solutions, launched its Web-based insurance eligibility verification tool, MedCurrent Verify at RSNA 2008.
The Verify downloadable software is designed to speed insurance workflow processes improves claim submission accuracy and optimizes reimbursement. Physician office staffs use MedCurrent Verify to connect with databases from more than 350 U.S.-based insurance carriers, to automate verification of insurance eligibility and secure real-time patient coverage information.
Through January 31, 2009, radiology practices can access a free trial at www.medcurrent.com and use MedCurrent Verify to link up to four insurance carriers for 10 patient insurance verifications.
“Our technology replaces tasks that can be time- and labor-intensive,” says Steve Herman, M.D., MedCurrent president and a practicing radiologist. “Automated insurance eligibility verification is not uncommon in healthcare, especially in primary care settings where this functionality is often incorporated into practice management systems. In imaging, however, most radiology information system (RIS) vendors do not embed easy to use insurance verification capabilities into their solutions.”
MedCurrent Verify is designed to help imaging practices address financial challenges associated with the Deficit Reduction Act (DRA). While many of these entities have aligned strategies to reduce denied claims, few have implemented solutions to automate the process of contacting insurance companies to confirm if a patient is eligible to receive certain benefits. Validating this information before scheduling or performing a procedure can prevent losses incurred when an insurer denies a claim or a patient is delinquent in payments.
“In primary care, the average procedure charge is low, thus concern over a few denied claims may not be significant. But in radiology, a single procedure can be thousands of dollars. To perform a scan, only to learn later that it is not covered by the health plan can become very costly if it occurs frequently,” Dr. Herman said.
With MedCurrent Verify, healthcare providers can submit individual or multiple patient requests to multiple insurance carriers through the Web and, within seconds, receive specific coverage confirmations and information about patient plans. The system also notes errors in submitted patient data so that corrections can be made in the practice’s records prior to future claim submission. MedCurrent Verify enables practices to tap into the most current information in the insurance company’s database in real-time as an appointment is being scheduled. The system provides data in a consistent format that is more accurate and easier to review than information provided on many carriers Web sites. Practices use this information to address coverage issues with patients and insurers before a procedure performed and sometimes before the appointment is scheduled.
MedCurrent Verify can be used as a stand-alone solution or integrated into an existing RIS system. MedCurrent offers pay-per-click pricing to reduce upfront costs and to enable practices to plan and pay for verification costs in their operational budgets.
For more information: www.medcurrent.com
