A coverage discovery tool alerts frontline revenue cycle staff to patient insurance coverage that was initially overlooked or unknown during patient registration. These tools use advanced analytics to identify patient eligibility for government and commercial coverage, thereby increasing hospitals’ chances of collecting on patient accounts in full.
“Every dollar found in our proactive, automated Coverage Discovery solution is a dollar that our clients are not spending chasing patients for payments, paying for expensive collection agencies or writing off as bad debt,” Experian Health President Scott Bagwell said in a prepared statement.
In 2015, Coverage Discovery found unidentified coverage associated with more than $1.1 billion in charges, according to the news release.
More articles on revenue cycle management issues:
Debt collection agencies’ biggest problem: Medicaid expansion
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