How Hospitals Improve Revenue by Ending Perpetual Undercharging

Looking to improve revenue? Industry best practices state that charge capture errors should occur on less than 2% of accounts or claims. But at a time when margins are shrinking, accepting errors on even 2% of accounts means leaving millions of dollars per year on the table. With MedCom Solutions, you don’t have to settle for perpetual undercharging. Ensure you are being properly reimbursed for your medical services in three steps:

• 1. Perform a Charge Capture Audit

MedCom Solutions audits all processes and technologies that support each charging mechanism within the Charge Cycle. We identify both the components inhibiting full reimbursement of patient bills and how current services are captured. Broken charge cycles can occur in multiple areas beginning with understanding regulatory changes to failure to properly set up the IT toggle of yes-no for allowing chargeable volume to be greater than 1. Pricing is still paramount to full reimbursement. Most important is hospital staff collaborating to convert clinical services to financial billing.

• 2. Analyze Clinical Documentation

MedCom Solutions works directly with the operational processes that support the charge capture mechanisms utilized within the departments. We perform on-site examination of records, working with your team to make their jobs easier. MedCom Solutions has a reputation in the healthcare industry of being extremely easy to work with. Our job is not to give orders. Our job is to find out what is the root cause and correct it.

3. Update and Integrate Charge Capture Policies and Procedures

Based on our findings, we provide your facility with detailed recommendations and a post-implementation audit to ensure successful integration of the recommendations into the Charge Cycle. You get what you measure for. Follow up is one of the most common failures in hospital charge cycle management. Recommendations without measurement allows for immediate failure of integrating the recommended policies and procedures. These are measurable.

Improve Revenue Today with MedCom Solutions

MedCom Solutions develops and implements state-of-the-art software to help health systems overcome perpetual undercharging and improve their revenue. Our Chargemaster, Pricing, and Compliance solutions have yielded hundreds of millions in net revenue for healthcare providers across the country.

Learn more about our Comprehensive Pricing Review and Charge Capture Review services or visit our homepage!