When a billing department has been experiencing a higher rate of insurance denials, aging claims, and delinquent payments, you can be certain that it’s time to look for new solutions for your billing department. However, when things seem to be operating smoothly and efficiently across the board, it’s difficult to notice potential issues that can be easily overlooked. Any billing department can be substantially improved, and working with a firm that’s well-trained in billing audits and reporting is a significant first step to identifying hidden problems. Anticipating an upcoming medical billing audit can be stressful, but it doesn’t need to be if you properly prepare in advance.
RevWerx has maintained a high rate of client satisfaction with our billing audits and reporting services since we began offering them. When we perform a billing audit, our priority is ensuring that your facility or practice generates revenue, cuts down on unnecessary costs, and operates at an elevated level of efficiency. We strive to work as your ally in every aspect of the complicated billing process. There’s a reason that RevWerx is considered a leader in the RCM industry, and we would love to demonstrate that reason to you. For more information, contact our team by calling 833.309.0138 today or visit us online to complete our secure form.
Questions to Ask Before a Medical Billing Audit
How Can My Practice Benefit From a Billing Audit?
It can be too easy to shrug off minor problems when it seems that the majority of your billing processes are operating smoothly. This kind of complacency can be a major mistake. Regular healthcare audits are hugely beneficial to any organization, regardless of your ultimate business goals. Identifying instances of poor documentation, incorrect coding, denied or aging claims, and unrecorded treatments can help you to find patterns that were previously obscured.
What Are Our Main Areas of Concern?
A healthcare audit will identify areas in which you may need improvement, but you may already have an idea of potential problem areas. When you know where these are up-front, you can take some weight off the process and give yourself peace of mind. Even something as simple as holding a meeting with your team to discuss the billing audit and what you expect from it can give you an idea of the problem areas.
How Best Can We Go About a Billing Audit?
Medical billing audits aren’t one-size-fits-all. You may want to audit sample claims from the last six months, or you may find that only auditing claims from the last sixty days work better for your specific organization. You may want to designate a member of your team to complete the audit, or you may want to do it yourself. Often, providers find that an outside perspective is the best option for conducting their audit. Hiring a company to complete your audit will ensure that your workflow doesn’t slow during the process.
During Your Healthcare Audit
The work isn’t over after you’ve prepared for the billing audit, of course. Your staff must remain proactive during the audit to implement new changes and find ways to make them last. The purpose of a medical billing audit is to equip you with the tools you need to improve your practice. Once you have those tools, it’s crucial that you don’t hesitate to wield them. Address the problems you’ve found and train your staff to keep identifying them in the future.
If you require a capable, competent partner in the billing audits and reporting process, don’t wait to reach out for help. Contact RevWerx to discover what we can do to make the audit easier on your organization by calling us at 833.309.0138 or visiting us online today.