Uncompensated care often leads to significant revenue loss for providers, frequently resulting from uninsured patients, underinsured, or overlooked by overburdened in-house billing teams. Invicta MD specializes in identifying these hidden opportunities, helping providers recover substantial revenue that might otherwise be lost.
Manually researching every payer for each patient is not feasible. That’s where Invicta MD’s Coverage Discovery service steps in, utilizing advanced software to automatically check for any available coverage when a patient is marked as self-pay. Our tools—equipped with automatic claim scrubbing, vast databases, and intelligent algorithms—ensure we find the right coverage, benefiting both the patient and your practice: no more missed opportunities, just a more thoughtful way to maximize revenue.
The Coverage Discovery process kicks off with eligibility verification, right at the start of the medical revenue cycle. Around 30% of claim denials stem from errors made before the patient even sees the provider. By improving your registration and verification processes, there’s a real chance to boost your revenue. Here’s how Coverage Discovery optimizes the front-office workflow:
While some patients may be unable to cover the full cost of care, having accurate information and providing upfront cost estimates helps ensure more of your earned revenue is collected. By billing all responsible payers, there’s no reason to leave services unbilled due to unclear billing responsibilities.
With Coverage Discovery, front-end and billing teams get a hassle-free process, making their work smoother and faster. It frees up their time to focus on what matters, reducing the stress of unclear billing and giving them more time for critical tasks.
An efficient registration process ensures your staff captures accurate information, helping them communicate clearly with patients. When patients understand their bill and financial responsibility upfront, payment becomes more likely. While some patients may struggle to afford care, knowing what to expect and having a payment plan in place increases collections and makes the billing process more transparent and comfortable for everyone involved.
Your billing staff thrives when they have accurate insurer/payer information. Proper code matching ensures claims are approved upon submission, streamlining the process and making it easier to complete claims accurately since the right codes are already identified.
For over 10 years, Invicta MD has been providing tailored revenue cycle management services to the medical industry. Our focus is on addressing the unique needs of each client, leading to satisfied customers who reap the rewards of working with a full-service medical billing partner.
Got questions? Call us at +1 551 260 4350. If you’re skeptical about how our coverage discovery and billing services can boost your revenue, click here for a free demo – we’d love to show you how it works.
