Your hospital’s fiscal health depends on receiving appropriate net revenue for all services performed.
Facilities often review the hard coding of the CDM or how well medical records is coding, but overlook the initial documentation and charge-capture process for revenue improvements. Additionally, many hospitals believe they must bundle costs into a single rate or that items are not chargeable per Medicare guidelines.
Net Revenue corrects these problems by first reviewing the clinical process through documentation to determine how well it is captured by providers via the Patient Accounting system. If the episode is not accurately and consistently accounted for in a detailed manner, the resulting information and corresponding decisions may be faulty and misleading, particularly in a multi-entity corporation. NET REVENUE starts by reviewing a specific number of cases to determine the facilities opportunities for improvement. If the initial analysis identifies significant losses, we recommend that the organization take advantage of our entire process.
PHASE 1: Audit & Revenue Recovery
NET REVENUE will retrospectively audit the previous year of cases to identify chronic errors in the documentation and charge capture process and recover lost revenue.
PHASE 2: Education & Action Plan
The results of the Phase 1 audit are presented to all affected areas during a site visit to provide education and assist with development of an action plan to reduce or eliminate the errors.
PHASE 3: Implementation Support & Post Audit
Net Revenue will assist with project management of implementation then perform a post audit to assure its effectiveness.