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.

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.