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Intentionally or unintentionally, many medical practices leave money on the table due to poor billing and coding practices.
Medical billing audits can be its remedy. Compiling clean claims is crucial for survival. Any medical practice, whether government or private, needs to have a streamlined workflow to provide value-based services to patients. In return, they get a productive revenue cycle that fulfills their financial goals.
Many of you might think that auditing involves just the reviewing of clinical data. However, it is not just about the submitted claims but the complete process, right from patient registration to payment posting to patient statements to collections. Prevention is better than cure, so examining and evaluating the billing performance beforehand and rectifying potential issues via medical billing audit services is better.
During the medical billing audit, some of the core medical billing functions are analyzed, including:
• Billing documentation
• Medical Coding
• Under-coding & outdated practices
• Displaced CPT / ICD 10 codes
• Inaccuracies in patient demographics
A detailed report is prepared that targets and identifies the weakest areas of your revenue cycle – providing you with valuable knowledge to help fix them.
