Saturday, October 1, 2016
Boost Revenue by Better Determining Patients’ Eligibility for Medicaid
Processing health insurance claims of patients in an efficient manner positively impacts your hospital revenue cycle management. Think of it this way: The more insured patients you treat, the greater your revenue rises. Given this, it’s essential that your RCM focuses on determining and verifying insurance eligibility, which is part of the initial phase of every transaction.
Determining patients’ eligibility for Medicaid and other health insurance programs takes time and requires a set of skills and knowledge. The staff performing this job should be well aware of all aspects of Medicaid enrollment, a daunting task to say the least.
This is why many hospitals struggle with this area of their RCM. If this is the case for you, then you may want to start seeking third-party help to deal with all Medicaid eligibility requirements. Doing so reaps many benefits, especially if your workforce is too light for such a job.