Insurance Company Medical Errors

Errors and omissions insurance also known as e o insurance and professional liability insurance helps protect you from lawsuits claiming you made a mistake in your professional services this insurance can help cover your court costs or settlements which can be very costly for your business to pay on its own. Eobs insurance claim forms and medical bills from your doctor or hospital can be difficult to understand because of the use of codes to describe the services performed and your diagnosis. It s not surprising that patients and physicians are frustrated by the high cost of health care due to claim processing errors by insurance companies that waste billions of dollars every year.

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Incorrect information the patient provides such as their name and identifying information their provider or insurance information all fall under the blanket of medical billing errors too.

Insurance company medical errors. The ama s health insurer report card found that. Additionally you may need to deal with the insurance company if they have denied coverage for a service or procedure. A recent study by the american medical association found that while billing accuracy has improved one in 10 bills paid by private health insurance. A recent report from the american medical association ama provides some shocking numbers on the cost of inaccurate health insurance claim payments.

These codes are often used instead of plain english and it may be useful for you to learn about these codes especially if you have one or more chronic. Step by step instructions to appeal a health insurance claim. It offers superior coverage for employment practices liability product recall expenses trademark infringement and more. If you have an incorrect health insurance claim it can be a lengthy process to get the claim corrected.

Roughly 80 percent of all medical bills contain billing errors which increases the chances that the patient s insurance company will reject the claim. Point out any errors your doctor made that led to the denial. In 2008 the most recent year studied medical errors cost the country 19 5 billion most of which was spent on extra care and medication according to another report. The main focus of new laws and regulations regarding medical errors is to take the financial burden off of the patient and place it on the health care provider and the health insurance companies.

Medical billing is rife with errors like this. A medical billing and patient advocacy company in new city n y. With the flexibility to choose the limits you need you can customize your insurance policy to your business and easily. Liability edge is a comprehensive package that includes 13 different coverage extensions to enhance your commercial general liability insurance policy.

Here s how to dispute an incorrect medical bill or denied insurance claim.