Attention CFO’s: Are Your Physicians Capturing Accurate Reimbursements?
5 May 2008
“Getting paid for all the services and supplies that a hospital provides would seem like an elemental strategy in order for any hospital to function, but many CFOs are not even aware of the scope of the billing mismanagement issue.”
“Improving Cash Flow with Better Charge Capture & Denial Management” MedAssets & HFMA. October 2005
The issue is not necessarily that CFO’s are not aware of the billing issues, it’s just that they may feel they have ‘bigger fish to fry’. All CFO’s know that getting paid is essential to the bottom line of the organization. But not all CFO’s know the real facts behind billing mismanagement issues. Often times, physicians are leaving money laying on the table because they did not accurately document the services performed on the patient and therefore will not receive accurate reimbursement for those rendered services. This is the very reason why tools to overcome the billing mismanagement issues must be given to the physicians. That’s where the issues begin… physician documentation; but oftentimes the solution is left to the billing office to figure out, when they’re not the ones who created the issue. So ComplyMD aims to nip the problem in the bud — by capturing appropriate documentation at the point of service, in order to avoid dealing with billing issues later on down the road.
Entry Filed under: ComplyMD, Surgeon Notes, coding-compliance solution, compliance, documentation, healthcare IT, healthcare IT software, medical-procedure documentation, patient encounter documentation, patient encounter software, web-based software. Tags: accurate documentation, accurate reimbursement, appropriate documentation, billing mismanagement, bottom line, cfo's, charge capture, denial management, hfma, hospital services, patient services, point of service solution.
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