HOSPITAL FACTS
- Fact: 65% of all physician practices are owned by a hospital or health care system. But what percentage of these practices have had their billing audited?
- Fact: Only a small percentage of practices have had their billing audited.
- Fact: Only those who audit themselves will realize their true value and generate the most revenue.
DOES YOUR HOSPITAL
NEED AN AUDITOR
If you have recently purchased a practice,
here are a few questions to ask yourself:
- How do you know if you are correctly billing your services?
- How do you know if you are collecting enough money to cover the cost of the practice you just purchased?
- How do you know if you are getting paid enough by insurance companies?
INDICATORS
OF QUALITY
Consider these measures of
quality-control:
- Your hospital becomes accredited by JCAHO
- Your physicians endure 3-7 years of post-graduate training and CME’s to maintain licensure.
- Laboratories must gain and maintain CLIA certification.
How do you measure the quality of your billing services? Are you allowing your billers to operate without measuring their efficiencies and deficiencies? Do you want to know if your billers are producing exceptional quality in services?
What is your validation process for your billing? Who audits your billing and verifies their results? Who sets the quality measures for your billing?
You operate a business and ALL businesses should audit their processes AND results. How else will you discover your operations’ efficiencies and deficiencies? How much potential revenue is being left on the table? Your business generates millions of dollars in services, so why not audit this income? For the price of a few cases, you could gain piece of mind, actionable plans, and transparent results you can identify with.
Overall, you are a business and ALL businesses should audit their processes and results. Whether you are making auto parts or providing medical services, it doesn’t matter. It is likely that your practices are billing hundreds of thousands of dollars, so why not hire an independent third party to audit this billing process and the results? Imagine what we will find, imagine the results for your bottom line, and imagine how good it would feel to finally achieve peace of mind knowing that this process is taken care of.
SCHEDULE A CONVERSATION
Our 686-step process is one of a kind and provides a comprehensive review of your entire revenue cycle process.