Accurate Charge Entry and Audits Promote Revenue and Compliance
When billing professionals lack the requisite expertise or are overburdened, charge entry errors are bound to arise. And overcharges or undercharges result in filing incorrect claims.Importance of accurate charge entry
The healthcare revenue cycle is complex and challenging, with scope for errors at many stages. With several stakeholders involved, frequent denials and incorrect charge entry lead to compliance issues. Together with inadequate security, they are issues that negatively impact a practice. Here precise coding and accurate entry of charges by billers are non-negotiable processes that lead to increased revenues and a good reputation.
When billing professionals lack the requisite expertise or are overburdened, charge entry errors are bound to arise. And overcharges or undercharges result in filing incorrect claims. The absence of regular audits leads to compliance issues with regulatory authorities. Once that happens, there is a loss of reputation. Therefore, a practice has to manage its charge capture processes efficiently and regular charge audit provides timely and actionable insights enabling resolution of root causes.
Charge Entry Process
Charge entry is the process by which charges for procedures and other medical services are submitted to payors, whether federal or commercial, for billing. The process is a detailed accounting for services rendered and the initial demographic and other essential information intakes.
The process, in general, involves the following steps:
• Receive documents in the form of superbills, charge tickets and associated documentation
• Capture the service date, billing provider, referring provider, Point of Service, admission date, CPT/procedure codes, ICD-10, number of units, and modifiers.
• Clarifying issues with the client
• Import charges directly from the EMR.
• The charges are reviewed for accuracy before being sent for billing.
What is Charge Audit?
Medical billing charge entry services should be error-free to facilitate reimbursement of the correct amount to the provider for services rendered. This can be ensured through seamless coordination between the coding professionals and charge entry billing professionals.
Why is it essential?
Charge audits identify missed charges, cases of over-billing and coding errors, all of them leading to loss of revenue. The process entails (1) checking out written orders for the level of care and treatments rendered (2) ensuring that modifiers are appended and that the correct number of units are billed (3) checking charges against the updated fee schedule (4) identifying undercharges, overcharges and duplicate posting.
A medical facility is protected from potential fraudulent claims when it undertakes regular charge audits. Significantly, being proactive about conducting such audits regularly can identify possible errors such as improper unbundling practices, inaccurate coding and over usage of codes.
Need help with Charge Audit?
Is there a backlog of charge entries in your practice? Errors in charge entry a source of revenue leakage? Leave behind these worries. Bristol Healthcare Services is there to partner with you. We have more than two decades of experience working with medical professionals. We know that changes are a constant feature in the healthcare industry and train our billing and coding team to stay on top of these changes. Whether stand-alone services or the entire revenue cycle, you can be sure of our superior services. Our team will ensure that there is constant cash flow and quick reimbursement.
Allow us to assist you in taking your practice to the next level.