LM319 - Never Trust, Always Verify: Verification of Benefits Best Practices

Abstract:
This course will provide a detailed look at the elements needed to conduct a successful verification of benefits. We will dive into how to interpret the benefit and we will discuss how to compare the VOB to the EOB (Explanation of Benefits).

Summary:
Have you ever gone into a medical appointment without knowing what your insurance will cover and what you will be responsible for? Have you ever received an invoice after a medical appointment that you weren’t expecting? If so, you are not alone. Verifying benefits prior to patients’ appointments is one way to ensure a positive experience with your practice. Understanding what the patient’s benefit is allows for transparent conversations and provides a clear picture of what their financial responsibility will be.

This course will explore the tools available to obtain verification of benefits, when to check benefits, and what the data requirements are. By the end of the course, participants will be able to create and implement a standard verification of benefits form that can be used to create consistency when gathering all the required information.

Participants will also learn how to calculate a patient’s benefit once all the required data is gathered. Experience with verification of benefits comes with a lengthy list of tips and tricks to ensure VOBs are done accurately and efficiently – in this course we will share the most common mistakes to avoid as well as tips and tricks to make the process easier.