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Insurance Discovery
Insurance Discovery Software from Innobot is a unique combination of human intelligence with 25+ years of end-to-end revenue cycle experience along with technology driven algorithm. This combination helps in finding the accurate commercial or federal active coverages that was previously unknown/ un-collected/ forgotten/ missed / withheld during patient registration.
Innobot Insurance discovery goes a step forward in providing COB (Co-ordination Of Benefits) information of the patient thereby providing the complete insurance demographic information to the service providers.
Identifying the correct payor helps provider to file the claim promptly by reducing the chances of rejection or denials that may arise due to coverage/missing information. This converts to quick reimbursement for the service provided and reduces the Account Receivables.
Demographic Verifier
Demographic Verification means Licensor's software product that locates and/or corrects information regarding a patient's name, social security number, date of birth, address and/or telephone number for patients.
Faulty patient demographic data is the number one reason for denied claims and failed insurance eligibility. Billers spend hours chasing down accurate information from patients, leaving everyone frustrated.
Innobot Demographic Verifier tool solves this daunting problem, allowing billers to obtain complete and accurate patient information in an instant. When applied at the front end of the billing process, our tool improves statement delivery, reduces the cost of claims, and accelerates payments.
Self Pay Analyzer
With healthcare’s massive influx of self-pay accounts, patient responsibility is at an all-time high. High deductible health plans (HDHPs) abound and old processes for patient collections have become obsolete.
Innobot’s Self-Pay Analyzer determines which patients are most likely to pay and pinpoints those who qualify for a hardship discount or Medicaid. Through our comprehensive, data-driven review of self-pay accounts, providers and billing companies are able to:
Providers using our self-pay analyzer are able to identify patient payment likelihood. We provide monthly income, household size, federal poverty level percentage, credit score, available credit, employment, current collections and more.
MBI Discovery
A management buy-in (MBI) is a corporate action in which an outside manager or management team purchases a controlling ownership stake in an outside company and replaces its existing management team.
Innobot Data Systems has built an MBI lookup tool and converter to make it easy to find a patient’s MBI. Any provider or billing software vendor can automatically identify and convert an individual HICN or SSN to MBI. The MBI lookup tool accelerates what is otherwise a time-consuming, manual process. Automatic lookup facilitates clean claims and optimum reimbursement.
Innobot Data Systems can also execute batch queries for all Medicare patients in your databases. Simply send a batch file containing each patient record, in Excel format, through our secure portal. We will run our proprietary, enhanced MBI lookup process and deliver updated MBI numbers for all valid HICN and/or SSN within 24 hours.
Claim Status
The claim process is one of the most crucial aspects of health insurance. The insurance company is not liable to reimburse your medical expenditures unless and until you file a claim to get your guaranteed sum assured amount. You can undergo treatment without worrying about any complications once you have requested to claim your health insurance coverage.
However, it is sometimes necessary to maintain track of your claim process request and customers need to check the status of their claim request, which can be done online or offline. The reimbursement claim procedure takes longer than a cashless claim process, thus policyholders must keep track of their claim progress on a frequent basis.
Insurance Verifier
The insurance verification process includes deductibles, policy status, plan exclusions, and other items that affect cost and coverage and are done before patients are admitted to the hospital as it is the first step of the medical billing process.
To put it simply, insurance verification is the process of contacting the insurance company in order to confirm that the patient’s healthcare benefits cover the requested procedures. This process is complemented by obtaining insurance authorization that helps determine a patient’s eligibility.
In particular, receiving authorization is essential to avoid claim denials. It also plays an important role by eliminating errors in patient’s data that cause billing denials and, consequently, time and money loss for practices. That results in faster and more efficient payments and reduced debt.
Authorizations
