Conducting A Charge Audit to Increase Revenue

Description

Areas Covered

• A major component of successful revenue management is accurate charging for services provided. Charges must be identified, posted timely and completely.
• Hospital charge capture is typically handled by the department that provided the service. Professional charges may be posted by the provider. In either case, the function may be a low administrative priority with little to limited training for charging activities. Coordination between departments may not be established. Accountability for correct charging may be minimal.
• There may be no formal policies or baseline controls for correct charge capture.
• Different systems may be used for charging and reconciliation

An effective charge audit can identify lost revenue opportunities

Webinar’s Goals

• Understand the importance of accurate charge capture
• Tips for charge review
• Departmental charge capture errors & omissions
• Revenue leakage resulting from charging errors
• Reduce non-compliance exposure
• Improvement of operational efficiency
• Enhance patient satisfaction

Key Points

• Why Errors Occur
• Multiple departments entering charges
• Charge master may be incorrect or incomplete
• Error in number of units selected
• Error in item selection
• Inactive charge
• New service not added
• Incorrect revenue code/cost center
• System conversions
• Overreliance on claims scrubber

Target Audience

• Physicians
• Practice managers
• Medical assistants
• Nurses
• Compliance staff
• Billers
• Coders
• Revenue Cycle
• Risk Management