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Measuring Your Hospital’s Total Cost of Care
When looking to improve efficiency and reduce costs for your hospital, you want to ensure your total cost of care is measured correctly. The two variables you want to look at are how much is reimbursed for each service and how much it costs to deliver said service. Everything from general checkups to operating room charges should be measured to ensure all billing is accurate.
Before measuring your total cost of care, you want to ask yourself the following:
- Is the hospital capable of tracking and monitoring the total cost of care?
- Do you have the necessary access to claims and payor contract data?
- Do you have accurate utilization data for all services?
- Do you and your staff stay up to date about the cost of health care?
It is vital that all your patient charges and corresponding payment data are accurate, so you can easily measure against your total cost of care. Our team at MedCom Solutions can help you work out any of the details to ensure your hospital is accurately charging patients and receiving revenue. We have helped numerous organizations with a vast variety of their reimbursement issues and will happily assist your organization with its own. Reach out to our team today by calling 1-800-449-8601 to learn more about how we can help.