Recoup Lost Revenue
Millions of dollars in potential revenue is lost every year due to billing errors, such as under-pricing, missed charges, under-coding, and unreimbursed claims. In essence, this is like offering medical services for free.
“As much as 3 to 5 percent of annual practice revenue is lot because the practice simply did not bill for services and procedures that the physicians performed,” said National Advisory Board President Deborah Grider, CPC, CPC-H, CPC-P, CPC-E/M, CPC-I, CCS, CCS-P (Physicians Practice, November 2008).
In her article, “Billing Problems? Consider Your Charge Ticket,” Grider says the key to not letting revenue dollars slip through your fingers is to:
- Use updated charge tickets
- Employ a dedicated certified coder
- Use current coding resources