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Days To Capture Charges
Days to capture charges is a metric not often evaluated with a large group, or with a group with multiple sites, or a practice with a central billing office. The reality is that if you do not measure it, you are not managing it.
This practice when asked about their throughput stated that they were processing claims as quickly as they were coming in the door. However, upon further inspection and after modifying job responsibilities of the billing staff the number of days that it took to process a claim from the time the patient was seen to electronically submitted was significantly reduced. Initially it was taking as much as 15 days to receive and process claims. After several months that time was reduced to an average of 1.4 days. With electronic claims processing this can result in claims being paid in the same month rather than a whole month later.
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Fee Analysis Michigan Hospital
Although most hospitals and practices tell you that they review the CPT codes and make sure that their
charges are high enough the average practice has many codes that have been deleted, and are priced
either too high or to low compared to what the market place would bear. This analysis demonstrates a
Hospital based in Michigan that said that they always check their CPT codes annually and make sure that
the price is 20% above Blue Cross and Medicare. Although this graphic depicts all of the CPT’s are
under fee, they have been sorted and represent the top 20% of CPT’s that are priced incorrectly.
As you can see from this graphic, the organization is leaving hundreds of thousands of dollars “on the table” |
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MSO
Billing for any physician office or hospital is complex. There are many area’s where things can go wrong. This graphic demonstrates that through the Operational and Efficiency Analysis we can turn things around for your practice. This graph shows a large MSO with multiple groups and their Accounts Receivable trend. As you can see in March 2002 a number of changes were made resulting in millions of dollars being captured by the practice, that other wise would have been lost.
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Revenue Cycle
This simple chart shows some of the facets of the revenue cycle. Of course, in reality it is much more complicated than this. We will analyze all of the components of the Revenue Cycle and show you how your practice can work smarter, not harder.
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