When exploring ways to maximize your revenue cycle efficiency and profitability, healthcare providers need not look further than the first yet vital step of the revenue cycle process – insurance eligibility verification and prior authorization. When done right, it helps providers scale revenue, and reduce denials and outstanding accounts receivables.According to recent reports, healthcare providers spend on average 30% of their annual income verifying patient insurance eligibility as the current insurance verification landscape is becoming much more complex due to patients frequently switching insurance networks and rising financial responsibility.
