Overcome Insurance Discovery Challenges to Quickly Access CARES Act Cash

By Olivia Currin-Britt, Director, Revenue Cycle Solutions | Posted: 06/12/2020

nThrive revenue cycle solutions CARES Act

As of June 11, 2020, funds are still available under the CARES Act programs that were established to aid health care providers impacted during the COVID-19 Coronavirus pandemic. This is an incredible opportunity for health care providers to receive reimbursement that can aid in financial recovery and improve overall revenue cycle health. nThrive’s revenue cycle management experts are here to help your hospital or health care organization leverage an insurance coverage discovery tool to access CARES Act funds quickly and rebound from COVID-19.

Following the program’s rollout in May, a common obstacle health care providers face is verifying patient eligibility in an efficient manner. After a provider enrolls as a participant, patient eligibility needs to be checked and then verified that the patient is in fact uninsured and doesn’t have coverage as an individual, employer-sponsored, Medicare or Medicaid, or other payor coverage.

This verification process is often manual and labor-intensive. On top of that, accuracy is crucial. No interim bills or corrected claims are accepted in the program. Claims must be complete, and they must be correct, or they will be rejected and illegible to receive funding. Medical providers who don’t have access to insurance coverage discovery tools risk losing out on critically helpful financial reimbursement. It’s also widely anticipated throughout the health care industry that additional CARES Act funding will not be made available, so time is of the essence to capture reimbursement to aid in bolstering your hospital or health care organization’s revenue cycle health.

How nThrive Can Help Your Hospital or Health Care Organization

nThrive can help health care providers in the verification of uninsured patients’ portion to get the reimbursement process underway. Our experts can implement industry leading solutions within 3 – 5 days and can uncover and verify all uninsured patients’ eligibility for reimbursement within 24 hours. Our service provides an immediate impact and affords health care providers the potential to realize revenue within a couple of weeks.

Please find more information on our business continuity and recovery solutions at our regularly updated COVID-19 Coronavirus Portal. You can use this same link to register for upcoming COVID-19 webinars, view recordings and presentation materials from previous webinars, and contact our experts using the form fill area.