Most people assume healthcare consulting benefits the organization – not necessarily the physicians within that organization. However, that’s not true. Physicians can and do benefit from healthcare consulting.
Physicians experience actionable improvements from healthcare consulting. These improvements can benefit the organization’s bottom line, improve patient care, and make it easier for physicians to do their job.
Today, we’re explaining some of the ways physicians can benefit from healthcare consulting whether running a small practice or working for a larger organization.
Charge Capture Reviews Identify Missed Revenue Opportunities
Healthcare consultants conduct charge capture reviews. You may not know how much you’re losing in possible reimbursement until you order a charge capture review.
Without accurate charge capture processes in place, potential reimbursement slips through the cracks. It can increase claim denial rates and waste money at multiple levels of an organization.
Many organizations struggle to identify charge capture errors – especially if they’re unfamiliar with the complex nature of charge cycles. As any healthcare consultant will tell you, charge capture is among the most destructive problems in healthcare reimbursement.
As a doctor at a hospital, charge capture review has less of a direct impact on you. As a physician at a private practice, however, charge capture reviews can add significant revenue to your business – you’re already performing this work, and you need to get paid for it. The success of your private practice depends on it.
A good healthcare consultant will conduct:
• Charge capture reviews
• Physician/provider claims reviews
• Review of office and inpatient E/M visits coded and billed
By targeting these areas of the organization, healthcare consultants can identify missed revenue opportunities – enhancing profitability for doctors, their practices, and their organizations