Whether you're part of a physician group, a small clinic, or a large hospital, are you sure that coding audits are being conducted regularly? Did you know that coding audits that are conducted monthly can save your practice/clinic/hospital a great amount of money, not to mention time as well?
There are different types of coding audits, some or all of which may be applicable to your organization. This could be DRG validation, RAC audit support, evaluation and management coding audits, or coding revenue integrity audits. Each one of these has a specific benefit and role to play in the overall management of health information in the organization.
Why go for professional coding audits, you may wonder, when everything is going smoothly anyway? However, you may need to ask yourself the question whether your operations are running as optimally as they can be.
Practices that are niche specialties may need more frequent coding audits than others, only because of the complexity of the medical coding involved. Also, if you have medical coders that are new or your coders are working on a specialty that is new to them, it would be a good idea to conduct coding audits more frequently. This will help to bring down the percentage of errors that could be expected in these circumstances.
Professional coding audits can significantly improve coding accuracy, which in turn leads to greater compliance with regulations, potentially saving thousands of dollars in losses. Not only is there a minimized risk of any fraudulent claims, but there is also less stress from potential fines that have to be paid for any non-compliance issues.
Increased medical coding accuracy, which is ensured with professional coding audits, will also result in less percentage of underpayments, which results in greater revenue in the long run.
Coding audits also help in educating providers and in-house coders about the errors that they make, which can lead to better outcomes with lesser errors in future. You can rest assured that the quality of your medical coding team will be significantly improved with regular medical coding audits.
From timely adjudication of every claim, to reduction in denials, and maintaining strict compliance with regulations, professional coding audits go a long way in streamlining and optimizing the entire revenue cycle for your organization, so why not outsource it to the professionals to take care of?
Vee Technologies has a team of professional coding auditors with extensive clinical knowledge to take care of all kinds of coding audits. You can read more about the impact we have had on various clients.
Get in touch with us today to get your medical coding audits started. The first step to impeccable, accurate, and timely medical coding and reimbursements!