Eliminate claim denials and maximize revenue with our comprehensive verification of benefits solutions. Know patient coverage before treatment.
Verify Benefits NowUnderstanding the importance of insurance benefit verification
Verification of Benefits (VOB) is the process of confirming a patient's insurance coverage details before providing services. This critical step helps healthcare providers understand what services are covered, the extent of coverage, and the patient's financial responsibility.
Without proper VOB, medical practices risk claim denials, delayed payments, and unexpected patient billing issues that can damage patient relationships and practice revenue.
At CareAxis, we've streamlined the VOB process to ensure you have accurate insurance information before treatment. Our team verifies eligibility, coverage details, copayments, deductibles, coinsurance, and authorization requirements.
We go beyond basic verification to provide you with a comprehensive understanding of each patient's benefits, helping you make informed decisions about treatment plans and financial arrangements.
Confirm active coverage and effective dates to avoid treating patients without insurance.
Detailed analysis of covered services, limitations, and exclusions for specific treatments.
Clear understanding of patient copays, deductibles, coinsurance, and out-of-pocket maximums.
Our step-by-step approach to verification of benefits
We gather complete patient demographic and insurance information, including photo copies of insurance cards, to ensure accurate verification.
Our team contacts insurance providers through multiple channels (phone, online portals, electronic verification) to confirm active coverage and eligibility.
We conduct a detailed investigation of the patient's benefits, including covered services, limitations, exclusions, and financial responsibilities.
We identify and communicate any pre-authorization or referral requirements needed for specific services or treatments.
We provide comprehensive VOB reports that include all verified information, helping your staff make informed decisions about patient care and financial arrangements.
We help facilitate clear communication with patients about their financial responsibilities before services are rendered.
How proper verification of benefits transforms practice revenue
Practices using our VOB services experience a 72% reduction in claim denials related to eligibility and coverage issues.
Our clients save an average of $125,000 annually by avoiding denied claims and reducing administrative costs.
| Element | Description | Importance |
|---|---|---|
| Active Coverage | Verification that insurance is currently active | Critical - Without active coverage, claims will be denied |
| Effective Dates | Start and end dates of coverage period | High - Services outside coverage dates won’t be paid |
| Copayment Amounts | Fixed amounts patient pays for specific services | High - Affects patient collections and expectations |
| Deductible Status | Amount patient must pay before insurance covers services | High - Impacts patient responsibility and collection timing |
| Coinsurance Rates | Percentage of costs patient is responsible for | High - Affects patient financial responsibility |
| Out-of-Pocket Maximum | Maximum amount patient will pay in a benefit period | Medium - Helps with patient financial counseling |
Benefits of our verification of benefits services
Our established relationships with payers and efficient processes mean faster verification turnaround times, often within 24 hours.
Reduce claim denials and improve cash flow by ensuring services are covered before treatment is provided.
Stay compliant with regulations by properly verifying benefits and obtaining necessary authorizations.
Clear communication about financial responsibilities leads to better patient experiences and fewer billing disputes.
Our dedicated VOB specialists are available to answer questions and resolve verification issues quickly.
HIPAA-compliant verification process that protects patient information throughout the verification process.
