Why is it important to verify patient insurance information?

Verifying patient insurance information is crucial primarily to ensure accurate billing and prevent claim denials. This step ensures that the services provided are covered under the patient's insurance plan, reducing the likelihood of billing errors that could lead to rejected claims. When the correct insurance details are confirmed, healthcare providers can successfully process claims for reimbursement, ensuring that they receive payment for the services rendered. Additionally, validating insurance information helps to avoid complications in patient care, such as unexpected out-of-pocket costs for the patient, which can arise if a service is not covered by their insurance. By prioritizing accurate billing, practices maintain a more efficient revenue cycle and improve their financial stability.