VerifiaBill: Insurance Auditing and Consolidated Insurance Billing Software

Accentuate helps Beneration, LLC to design, develop and launch a SaaS model software based on their requirements

According to Medical Billing Advocates of America, eight of 10 medical bills contain errors that cost patients and insurance companies money. Billing audits are one approach to fix this problem. Billing Audit is an organized process which inspects and evaluates the effectiveness and reliability of clinical documentation and medical billing data submitted to the payers. Data sources to conduct billing audit consists of Clinical, Financial and Policy related documents.

Audits can be conducted either the before claims are sent out to the payers (prospective) or after the fact (retrospective). Billing Audits are much wider in scope as compared with Coding Audits and must cover all the areas of the medical billing life cycle starting from insurance verification processes, claim submission process, payment posting process, follow up processes and denial management processes

Billing audit is a complex task where many things can go wrong. It takes a seamless, highly efficient system to conduct medical claims processing without critical errors. Even minor mistakes can spell trouble for healthcare providers, insurance companies, and patients. Billing audits might sometimes seem like a luxury, especially in a very busy practice, but there are a number of compelling reasons why performing audits is actually beneficial. Those benefits cover clinical practice as well as administration.

As billing becomes more complex, a deliberate and strategic approach to billing audits will be necessary for every employer. Establishing best practices for your audit processes will help ensure that your practice gets the most out of the time invested in your audit efforts. Here are a few suggestions.

At Beneration, we have over 10 years of experience auditing and streamlining group insurance invoices—we’ve been studying the employee benefits industry for even longer. In 2016 we used this knowledge to develop an entirely new software solution from the ground up—VerifiaBill.

VerifiaBill’s proprietary software offers Premium invoice auditing services and Invoice consolidation and reporting. VerifiaBill was built with our customers in mind, addressing all of the unique needs that come with managing employee benefits and insurance coverage.

Vishnu Enjapoori, Director of Enterprise Applications @ Archetype Solutions Group is specialist in developing solutions to challenges for ideas to address needs within their companies and/ or industries. Vishnu has an idea for developing a solution for insurance niche that provides insurance invoice auditing and consolidation service

The main objective of this project to help insurance company to eliminate carrier invoice errors and properly allocate benefit costs amongst all of the unique employee cost centers It is nearly impossible to fully audit carrier invoice by a company because of all the employees, adjustments, divisions and codes on the invoices. So they came up with idea to provide this online service to audit the data.

VerifiaBill: Insurance Auditing and Consolidated Insurance Billing  Software