Registration errors, changing insurance and patient miscommunication can lead to the misclassification of accounts as self-pay, increasing the probability that an account will turn into bad debt. Even when caught early, misclassification errors often impact A/R days, payment speed and cash flow.
Experian Health Self-Pay Coverage FinderSM leverages in-depth eligibility knowledge and payer relationships, combined with data and analytics to review information, correct errors and identify active coverage. By re-classifying accounts proactively and earlier in the revenue cycle, healthcare organizations can submit claims to payers faster, as well as increase revenue and enhance productivity.
By automating the self-pay process, Self-Pay Coverage Finder identifies coverage using the most up-to-date payer data. A search of commercial, Medicare and Medicaid insurance plans reveals and prioritizes available coverage. When paired with Experian Health Patient Identity Verification, Self-Pay Coverage Finder recognizes and corrects routine registration and data entry errors such as incorrect birth dates and transposed Social Security numbers — ultimately reducing misclassified accounts and realizing previously unclaimed revenue.
Flexible, user-defined work queues streamline workflow, allowing staff to focus on the timely submission of insurance-eligible accounts. Self-Pay Coverage Finder reduces administrative time spent trying to collect on accounts with incorrect information. Using actionable data — such as the correct payer and plan — minimizes payment misunderstandings and unnecessary collections activities, creating more efficiency for staff, increasing payment opportunities and improving patient satisfaction.