Do you conduct an annual billing/coding audits?

To manage revenue in a cost-effective manner, perform annual miniaudits of your reporting, coding, and billing activities. The audits serve the following valuable purposes:
  • Identify discrepancies. By examining the information related to a specific service and comparing the documentation on various office records, your staff will see where and why services end up understated, overstated, or even lost.
  • Increase reimbursement IQ. As your reception and nursing staff examine explanations of benefits (EOB) and see 30%–40% adjustments, they should begin to understand why they must properly capture every charge. Tracking the steps that lead up to EOBs shows how to improve the results, which is a direct educational approach.
  • Improve awareness of coding’s revenue-enhancing importance. By examining charts and billing information, your staff can better grasp the importance of accounting for every service rendered.

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About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA