How Genesis by MediMobile Stops the Insurance Chase
Dealing with insurance delays and denials is one of the most frustrating aspects of healthcare billing. Missing or outdated information often leads to rejections, appeals, or delayed payments, creating a constant chase for approvals and reimbursements.
With real-time insurance updates, MediMobile’s Genesis puts an end to the chase. By providing instant access to accurate, up-to-date insurance data, Genesis eliminates guesswork, speeds up approvals, and ensures claims are accurate from the start.
Why Insurance Accuracy Matters
Insurance rules, coverage policies, and patient benefits change frequently. Without up-to-date information, claims are more likely to have errors or mismatched details, leading to:
- Coverage Verification Delays
- Without real-time verification, organizations risk providing services that aren’t covered or missing billing opportunities.
- Example: A patient’s insurance changes in January, but the practice isn’t notified. The claim is denied due to outdated details.
- Authorization Complications
- Many procedures require prior authorization. Without real-time updates, securing approvals becomes a bottleneck.
- Denied Claims
- Errors in eligibility or coverage information lead to claim denials, increasing administrative burden and delaying payments.
- Missed Revenue Opportunities
- Incomplete or outdated data can leave reimbursable services unbilled.
How Genesis Works to Stop the Chase
Genesis leverages real-time insurance updates to sync patient coverage details with billing and coding platforms instantly. This automated system ensures accuracy and compliance at every step of the revenue cycle.
Key Features of Genesis Real-Time Insurance Updates:
- Instant Eligibility Verification: Confirm insurance details when a patient is registered or scheduled.
- Automated Prior Authorization: Identify and initiate authorizations before services are provided.
- Seamless Integration: Updated insurance information flows directly into coding and billing systems.
The Genesis Impact on Revenue Cycle Management
By integrating real-time updates, Genesis tackles the root causes of insurance-related headaches:
Faster Approvals
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- Genesis secures authorizations quickly by verifying coverage instantly. This reduces delays in care and accelerates claim processing.
- Example: Genesis identifies a procedure needing prior authorization and submits the request immediately, cutting wait times.
Accurate Claims Submissions
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- With up-to-date insurance data, claims are less likely to contain errors or mismatched details, improving acceptance rates.
- Example: A patient switches to a new payer mid-year. Genesis updates the billing system in real time, ensuring claims are directed to the correct insurer.
Reduced Administrative Burden
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- Billing teams spend less time chasing details or fixing errors, allowing focus on higher-value tasks like collections and improving patient experiences.
Enhanced Patient Satisfaction
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- Streamlined approvals and accurate billing reduce patient frustration, strengthening trust and satisfaction.
Real-World Benefits of Genesis
Small Practices
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- Real-time updates simplify workflows, enabling staff to focus on patient care rather than chasing insurance approvals.
Large Health Systems
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- Genesis prevents bottlenecks in high-volume workflows, optimizing revenue collection and reducing errors.
Executive Insights
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- With fewer denials and faster payments, C-suite leaders gain clear visibility into financial performance metrics.
What Happens Without Real-Time Updates?
Organizations that lack real-time insurance updates face significant challenges:
- Higher Denial Rates: Errors in outdated insurance details lead to rejected claims.
- Longer Payment Cycles: Delays in approvals extend reimbursement timelines.
- Increased Administrative Costs: Teams spend more time correcting errors and managing rework.
- Patient Frustration: Incorrect billing damages trust and satisfaction.
How Genesis Changes the Game
Genesis stops the insurance chase by making real-time updates a seamless part of every workflow:
- Proactive Checks: Ensures eligibility and coverage are verified before services are provided, avoiding denials.
- Built-In Alerts: Flags issues immediately, enabling quick corrections.
- Integrated Data: Keeps billing and coding systems synchronized with payer rules.
- Dashboard Monitoring: Provides administrators with real-time oversight for better decision-making.
Stop Chasing Insurance, Start Maximizing Revenue
With Genesis, healthcare providers no longer need to chase down insurance details or approvals. Instead, they can focus on delivering exceptional care, improving financial outcomes, and enhancing patient satisfaction. Stop the insurance chase with Genesis and discover how real-time updates can transform your organization.
Schedule your demo below!