WHAT IS A BILLING AUDIT?
Billing errors can reduce a practice’s revenue by up to 30%, which can translate into as much as $50,000 in lost revenue per provider. Whether it’s inaccurate or inefficient billing, errors can affect your practice’s bottom line. A billing audit provides a review of billing standards and helps correct billing oversights.
Billing Audits flyer:
IMPROVE THE FINANCIAL HEALTH OF YOUR PRACTICE
We help you review your practice’s coding and documentation to reduce your risk of compliance violations and help maximize your reimbursements.
WHY DO I NEED BILLING AUDIT SERVICES?
Our billing audit experts can analyze your billing and coding procedures and identify incorrect billing patterns in order to:
- Improve Your Earnings – identify lost revenue
- Meet Billing Standards – ensure appropriate payment and compliance
- Check Internal Processes – assess the accuracy of documentation
- Check for Errors – verify coding and billing support
- Provide Peace of Mind – protect your practice from legal and financial risk
BENEFITS TO PROVIDERS:
- Ensures proper codes are being billed to governmental agencies and insurance carriers
- Protects against fraudulent claims and billing activity
- Identifies and corrects problem areas before payors challenge inappropriate coding
- Helps prevent governmental investigational audits
- Correct undercoding and code overuse for documented procedures
- Identifies reimbursement deficiencies and opportunities
HOW HEALTHARCH CAN HELP
CHART / ENCOUNTER DOCUMENTATION AUDITS
We review the encounter documentation to determine if it supports the billing codes. A minimum of five random encounters per provider will be reviewed unless discrepancies show the need to view more.
- Scheduled visits for audit review
- Completed audit sheets and summary reports by provider and an organization audit summary report
- Final meeting for presentation and review of audit and summary report per provider
INTERNAL AUDIT TRAINING
One-on-one chart audit review training on:
- Selecting and determining an audit tool
- Reviewing encounter documentation
- Determining encounter status (correct, miscoded, undercoded and/or overcoded)
- Documenting inconsistencies and recommendations
Contact HealthARCH today for your FREE initial consultation.
To learn more about our services, email HARevenueCycle@ucf.edu or call 407.775.6010.