The insurance companies, either Federal Government-sponsored, must honor any claims arising from plan-linked medical services that beneficiaries have received. Though, owing to the unpredictable nature of medical services, you should obtain prior insurance authorization for prompt reimbursement of any claims.
Unfortunately, denials are becoming more frequent. That is why it is significant to have patients’ health insurance approved by their respective carriers. It could be unrealistic to expect patients to obtain their insurance authorization proactively from the insurance companies. The providers will ultimately have to approve insurance authorization due to the rigorous audit policies of the insurance companies.
Insurance Authorization is a similar component to Medical Billing Management. You will need to put in a lot of effort and time to complete the necessary formalities. Outsourcing more economical services is a better option, as this lengthy process will negatively impact your core medical concern and the staff.
Medstar Billing Insurance Authorization service has been specifically created to help ease and enhance runaway revenue production.
The way it works?
Physicians all over the country are struggling to find someone who can take care of their administrative tasks and allow them to focus on the important task of providing quality healthcare. Many physicians prefer to have a specialist take care of the reimbursement process, maximizing their revenue. Still, they are relentlessly searching for someone who can help them manage their revenue cycle management.
Prior Authorization
A prior authorization (PA), sometimes called a “preauthorization,” requires your doctor to get approval from your company before your plan covers a certain medicine, device, or procedure. That may involve your doctor filling out an application to explain to the insurance company why you have been prescribed insulin, continuous glucose monitors (CGM), or a continuous insulin pump. There will be requirements for your insurance company before they cover this item or treatment.
How to Obtain Prior Authorization for Medication?
The main steps in the prior authorization are listed below. Every plan is different, so check with the relevant insurance company to learn more.
You can check the policy documents of your plan and the formulary for information about whether any treatments you are undergoing require a PA. In addition, you may get more data about your insurance authorization and Medicare coverage in your Medicare and Your handbook.
Find the process to submit and obtain prior authorization forms for any PA that is required. This information can be found on most plans’ websites. You may also request the fellow services number positioned on your insurance card.
To ensure information is correct, your doctor’s staff must be notified.
Please double-check that your PA request conforms to the plan’s guidelines before you submit it.
Once you submit your request, the insurance company will either approve it or deny it. If the request is approved, then you will be eligible to receive the desired treatment.
The approval letter might contain guidelines about how to obtain the care. If you are denied, the approval letter may contain rules about how you can get the care. It would help if you were prepared to appeal.
What is an Approved Pre Authorization?
Preauthorization is an insurance company restriction that applies to certain drugs, tests, and health services. Your doctor must first approve the authorization before your plan covers the item. The extra step allows both the doctor and the insurance company to feel confident that the item is necessary and medically necessary.
These terms are also known as pre-approvals, prior approvals, prior authorizations, or preauthorization. But they all mean the same thing. Again, this is common with all types of insurance, including government-sponsored coverage.
Your physician may choose that you need medication or service. If this is the situation, your doctor will request insurance authorization from your company to authorize the procedure or the pharmacy to fill your prescription. Although some plans allow patients to file their prior authorizations themselves, it is most common that the doctor must initiate this process.
Your doctor will often know if you are likely to need additional healthcare. However, you should be aware that your doctor cannot keep track of all of the details for every patient. Therefore, always ask your doctor or your insurance company if prior authorizations are required.
But What Does it All Mean for My Care?
While it doesn’t guarantee payment, an approved pre-authorization can be a good indication that your health plan is willing to pay for the service. However, even if your preauthorization is approved, it does not mean that your insurance will pay 100%. Your share of the cost is still yours, just as with any medication or service and any copayments, or coinsurance, set out by your health insurance plan.
It would be best if you remembered that pre-authorization may not be valid for longer periods and may need to be renewed periodically. Renewals for ongoing or medication-related treatments work the same.
That is the same way as the early prior authorization procedure. For renewals, many health plans will need to know if the medication or treatment is effective for your condition. If you were granted prior authorization to schedule a test or other service, but it was not scheduled within the timeframe allowed by insurance companies, your doctor’s office may need to submit again for approval.
Preauthorization: Why is it Important?
According to CAQH, microelectronic acceptance in healthcare is monitored. Electronic claims are at 94%, 70% and 70% respectively. E-prescribing, electronic eligibility, and 92% e-prescribing are all at 92%. Only 8% of prior electronic authorization (EPA) is used. That means physicians can spend on average $46,000 per annum in labor. Others, such as surgeons, radiologists, and laboratory specialists, can charge more.
Our Proven Insurance Authorization Services
Collecting all relevant information about the patient and the likely course for medical intervention
Verify your patient’s medical insurance authorization card to verify if there is an approved pre-authorization by the appropriate insurance carrier. Informing the relevant insurance carrier about the necessity for insurance authorization in case there is none. A substantiated explanation of the need for medical services beyond those initially identified in the insurance policy.
You are successfully arguing for a flexible insurance authorization that allows you to continue with the complete medical treatment of your patient. Thus, allowing a seamless translation of medical service into medical claims. Our Insurance Authorization, charting a complete procedure, will relieve you of all concerns about denied medical claims and allow you to concentrate on your primary concern, providing enhanced medical care to your patient population.
Contact Us Today!
Phone (407)337-5901
Email: info@medstarbillingservices.com