February 6, 2023
Healthcare is one of the most important aspects of our lives, and it’s essential that hospitals and clinics have efficient systems in place to ensure that resources and services are properly managed. One of these systems is financial clearance audit, which is an important part of patient treatment.
Financial clearance audit is a process that involves assessing the financial status of a patient before they can receive treatment. The audit helps hospital administrators to determine if a patient is able to pay for the services they need and if they are eligible for any subsidies or discounts that may be available. It also helps to ensure that the hospital does not incur any financial losses due to unpaid bills.
By making sure that all patients are financially cleared before treatment, hospitals can ensure that the proper paperwork is in place and that all payments are accurate and up to date. Furthermore, it helps to ensure that patients are not being overcharged for services that they may not need. It also offers advanced notice to the relatives of the patient in case the insurance coverage is insufficient or inactive.
In addition, financial clearance audits can help hospitals to budget for treatments more effectively. By having a clear understanding of a patient’s financial situation, hospitals can plan their resources more efficiently and allocate funds in a way that best serves the patient.
Overall, financial clearance audit is an important process in patient treatment. It helps to ensure that hospitals are managing their resources properly and that patients are receiving the care they need.
Improve patient’s experience by Suma Soft’s expert Financial Clearance Audit Services
Suma Soft healthcare experts are highly experienced validation of Medicare, Medicaid and Other Private insurance policies and coordinate with patients in case of insufficient coverages, renewals, etc.
Team has proficiency in Financial Clearance activities such as Preparation and Issue of Authorizations to Primary Care Providers, HDX for automatic Eligibility verification, Verification on third party websites such as Change Healthcare, NIA, Availity, Olive, AIM, Evicore, Documenting the evidence in Healthcare Management System for future records, etc.
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