Coding Audits
The healthcare industry sees hundreds of facility acquisitions and mergers every year (PwC, 2020). A critical part of mergers and acquisitions is the due diligence process, which provides a complete financial and performance picture of a healthcare organization to ensure it is a sound investment. Every aspect of the facility, including the physicians, coding, property, finances, and more, are reviewed. In addition, M&A due diligence audits highlight potential liabilities and coding quality issues.
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The onboarding process is a critical phase that sets the tone for an employee’s journey within an organization. However, what comes next is equally important: measuring the coding quality and productivity benchmarks of new hires.
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While most providers are hesitant to complete regular medical coding audits, it’s important to remember that they ensure accuracy and efficiency are maintained throughout the patient-provider relationship.
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There are myriad benefits to performing regular medical coding compliance audits. In order to have a successful audit process, coders must feel like their voices are heard. We’ve compiled these strategies to help empower the coding team during the next audit.
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Healthcare organizations must enact steps to manage the revenue cycle process effectively and efficiently. Thankfully, there are revenue cycle management (RCM) systems and coding reimbursement specialists that rely on data analytics to help streamline the process.
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Given that severe malnutrition MCCs increase the dollar amount in Medicare reimbursements, overcoding is a potential risk for all healthcare organizations. Review our recent case study findings where we present compliance, standardization, and improvement opportunities to one client hospital.
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Regular healthcare coding audits are necessary to run a compliant, successful healthcare organization. While the reason for the audit may differ, the overall checklist for conducting a successful audit remains relatively the same.
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Anticipating coding quality strengths and weaknesses is a great benefit trending reports offer when it comes to coding compliance audits. A coding team can remain accurate and competitive by taking advantage of the benefits trending analysis has to offer.
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To successfully navigate the future – and be prepared for anything – healthcare organizations need to craft a strategic plan. A strategic plan is beneficial for everyone: It allows the company owner to identify potentially fruitful goals, and it helps the employees foster that growth.
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Year by year, organizations rely more and more on their data analytics. In this article you will be provided with: An overview of key statistics to include in your coding compliance audits, a Questionnaire to determine if you need a coding compliance audit program…
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