Staggering Number of Hours Dealing With Insurance

1040 Hours Saved: Insurance Authorizations & Verifications

US Front Office Medical Staff spends a Staggering 1040 Hours Of Time on Doing Insurance Authorizations and Verifications!

For medical practices in the US, insurance authorizations and verifications are an essential part of the revenue cycle management process. However, these tasks can be time-consuming and require specialized knowledge and expertise. In this blog post, we will explore how many human hours per year are spent by US front office medical staff on insurance authorizations and verifications, the downsides of this approach, and solutions that can help medical practices save money and optimize productivity for US-based front office staff.

The Amount of Time Spent on Insurance Authorizations and Verifications

According to a survey by the Medical Group Management Association (MGMA), front office staff in medical practices spend an average of 20 hours per week on insurance-related tasks, including authorizations and verifications. This equates to 1,040 hours per year, or roughly 26 weeks of full-time work.

The Downsides of Manual Insurance Authorization and Verification Processes

Manual insurance authorization and verification processes can be time-consuming and complex. This is because medical practices must navigate complex insurance regulations and policies, which can vary from payer to payer. As a result, front office staff may need to spend significant amounts of time on the phone or online verifying patient eligibility, coverage, and benefits. Logging into various HMO portals can be time-consuming. Furthermore, the typical wait time for a PPO insurance authorization and verification can range from 30 minutes upwards.

Furthermore, processes are prone to errors, leading to claim denials, delays, and lost revenue. Errors can occur due to incomplete or inaccurate patient information, miscommunication with insurance companies, or other factors. The US-based front office staff is already overwhelmed with juggling their daily tasks. Add to that the complexity and time-consuming authorizations and verifications process. This is one of many reasons why front office medical staff churn is high. Quite simply put – they are burned out. And they need help. 

The Cost of Manual Insurance Authorization and Verification Processes

The time and effort required for manual insurance authorization and verification processes can be costly for medical practices. This is because front office staff, who are often highly skilled and educated, spend a significant amount of time on these tasks, which can detract from other important duties, such as patient care and support.

Moreover, these manual processes can result in lost revenue due to claim denials or delays. According to a report by the American Medical Association, the cost of claims denials for medical practices can range from 1% to 5% of their total revenue.

The Solutions to Save Money and Optimize Productivity for US-Based Front Office Staff

One solution to reduce the time spent on insurance authorization and verification tasks is to outsource these tasks to a virtual multilingual offshore team. This can provide significant benefits, including cost savings and access to specialized expertise.

Virtual staff can handle time-consuming tasks such as verification and eligibility checks and support denials management and appeals. This can free up US-based front office staff to focus on other critical tasks, such as patient care, scheduling, and billing.

Another solution is implementing electronic health record (EHR) and practice management software that automates insurance authorization and verification. These systems can streamline workflows and reduce the time and effort required for manual tasks. However, that is only part of the solution. 

Selecting the right and affordable EHR is time-consuming. the Saffron Solution team has led, navigated, and negotiated with electronic health record companies. Our team can help you scope your needs and vet the right technology stack to enable you to focus on your daily tasks as a physician rather than being an administrator with technical know-how. 

Human resources can only partially be replaced, even in this day and age of AIML (Artificial Intelligence & Machine Learning) automation. 

Conclusion

In conclusion, US front office medical staff spends significant time on insurance authorization and verification tasks. Manual processes are complex, time-consuming, and prone to errors, leading to lost revenue and reduced productivity. However, medical practices can save money and optimize productivity by outsourcing these tasks to a virtual multilingual offshore team. By doing so, medical practices can free up US-based front office staff to focus on other critical tasks and improve patient care and support.

the Saffron Solution offers white glove affordable solutions using customized technology and HIPAA-certified multilingual team solutions. Contact us to learn more. 

A Staggering 1040 Hours Of Time: Insurance Authorizations & Verifications (Spanish Audio)
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