By changing their mindset from denials management to denials prevention, healthcare facilities that use BOOST have realized the following results:
By identifying additional third-party billing opportunities, one 18-bed hospital realized
Getting it right the first time
Recent changes in the healthcare market have made it increasingly difficult to identify all opportunities to bill third-party payers. Even when you have identified a patient’s resources, simple errors or outdated information can cause rejections or denials.
40% of the information leading to a successful reimbursement stems from the registration process.
Factors such as not having time to collect information during critical care visits, patients having coverage they were not aware of, not updating information on each patient visit, or simple keying errors can contribute to not having a patient’s insurance information or the information being inaccurate.
If left uncorrected, missing information leads to missed opportunities for reimbursement while incorrect information leads to rejections and denials.
By identifying payer sources and correcting errors before or soon after service, you can gain more opportunities to bill third-party payers and reduce the amount of time spent reworking claims that were rejected or denied.
Proactive measures prevent downstream work
BOOST can help you get there.
The right tool to enhance your revenue cycle
If you have been looking for a tool to improve your healthcare revenue cycle, you have come to the right place. BOOST can help your staff identify missed payer sources and correct errors prior to generating claims.
BOOST has already helped healthcare organizations grow patient revenue by millions of dollars per year and significantly reduce insurance and patient demographic errors.
Let BOOST help your organization by
- scanning your most active payers for the existence of primary, secondary and tertiary coverage;
- verifying that the insurance and patient demographic information you have matches what the payer has;
- collecting the correct insurance and demographic information where errors have been identified;
- collecting policy information when coverage that you were not aware of is discovered;
- compiling information into intelligent worklists so your staff can be more efficient.*
*With some EHR’s, BOOST can automatically make corrections for you, creating even more efficiency.
Databound is wholly committed to your success.
BOOST can be configured within reason to meet your unique needs.
Direct-to-payer connections ensure that the information provided by BOOST matches payer records.
BOOST identifies discrepancies between your records and the payer’s, captures the payer’s information, then returns the information to you in the form of a worklist, so you can make corrections before claims are generated.
When patients return within the same calendar month, BOOST recalls stored information, preventing redundant transaction costs.
For scheduled visits, BOOST verifies and discovers information pre-service, giving your staff ample time to update records and seek prior authorizations.
For unscheduled visits, BOOST discovers insurance shortly after the date of service, maximizing possible revenue collected.
BOOST can connect to most payers, meaning you should not need a patchwork of vendors to ensure that you are getting verification and discovery for your most active payers.
Test BOOST for free
The best way to determine if BOOST will provide significant value to your organization is to take advantage of our free BOOST Test.
Here’s how it works:
- Identify one payer to test both verification and discovery.
- For insurance discovery, provide Databound with select information from up to 5,000 uninsured encounters.
- For insurance and patient demographic verification, provide Databound with select information from up to 5,000 insured encounters.
We will process these records through BOOST, at no cost, and return the results to you – with no obligation on your part. Your results will include the following:
The total number of insured encounters that failed verification
The total number of uninsured encounters that were identified as having coverage with the payer you selected
The verification failure reason and worklists for employees to follow in order to make the necessary changes for a clean claim
Policy numbers, group numbers, effective dates and term dates for patients where new insurance was found
Take the next steps
To participate in the free BOOST Test, please let us know your