Billing & Coding Audits
Accurate billing and coding is imperative to the operational strength of any medical practice because they reflect quality of patient care, reduces potential liability, and most importantly directly impact revenue.
The experts at Healthvisory have experience across a broad range of subspecialties and can assist you with all of your billing and coding needs. In many cases, we find that practices are leaving additional revenue on the table due to not knowing the proper billing and coding rules.
- Baseline audits to determine your practice’s strengths and weaknesses
- Annual audit programs, which are a crucial part of an effective compliance plan
- Transactional audits (buy and sell side)
- Training programs based on our audit results
Everyone starts somewhere. We start by performing a baseline audit to understand the risks and opportunities within your billing and coding process. This baseline can occur as part of a transaction or from your practice leaders wanting to get a handle on what’s happening in the practice.
We review a random sample of selected charts for each billing provider in your practice for billing and coding accuracy. Each of our audits includes a detailed report that outlines our results, including benchmarking against CMS data and quantifying the revenue impact of proper billing and coding.
Congratulations! Selling or buying a medical practice is an exciting, but sometimes overwhelming undertaking. During the healthcare M&A process, the due diligence will include a medical billing and coding audit to uncover any red flags.
We specialize in conducting these comprehensive transactional audits in a timely manner to allow both buyers and sellers to determine how a practice’s billing and coding efforts will impact the transaction. Our team is here to simplify this complicated aspect of healthcare transactions.
In Central Learning’s 2017 coding contest, 500+ coders correctly coded only 61% of inpatient and 41% of outpatient visits — well short of the industry’s 95% accuracy target. In short, there is no question that your medical billing and coding audit will identify training opportunities.
Keep track of medical billing and coding updates is difficult and time consuming. Our team uses your medical billing and coding audit results to develop a tailored training program to improve medical billing and coding accuracy in your practice.
