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6 HOSPITAL CHARGE CAPTURE BEST PRACTICES www.capminds.com
Introduction • In today’s current scenario, it is becoming very difficult for healthcare practices to maintain practice revenue. • RCM is becoming more complicated over the years with the advancement of digital technologies like remote patient monitoring and value-based reimbursement models. • With so many changes and challenges in today’s health system, medical practices can’t afford to ignore the charge capture process.
1. Optimize with Technology • There are simple methods to capture clinical data and transfer that information to a medical biller to properly code the diagnoses and procedures, and get the information submitted to the right insurance companies. • Leveraging technology, and eliminating paper, will immediately create greater efficiencies and set up your organization for related tracking and auditing procedures.
2. Educate to Overcome Adoption Issues • As with any system, if all the stakeholders involved in the process don’t fully understand the charge capture process. • Staff needs to be educated on • why charge capture matters because without a consistent process, insurance claims won’t go out in a timing matter, simply will result in the team not getting paid.
3. Document the Process • Hospitals are most successful with their charge capture process not only when it’s well-communicated and all stakeholders are educated, but the process must be well-documented. • Further, having central charging policies and guidelines established and documented will remove room for error and improve consistency as new team members join the team and pick up where others leave off.
4. Use Tech to Catch Pre- and Post-Billing Exceptions • Using a technology platform to catch exceptions will remove some headaches. • The hospital can then use this data to find anomalies and exceptions so that correct codes can be added or selected the first time around, getting billing moving through the process — instead of stuck in purgatory.
5. Audit the Process Regularly • One of the fundamental activities a hospital must do with charge capture is audited their billing regularly. • This will ensure that the correct charges for each patient were submitted. • Not only should standard billing be audited, but it’s also a good idea to look at services that have both a technical and professional aspect.
6. Examine Lag Time Challenges • Hospitals can look at the lag time between all major steps in the process such as from the date of service to the date of claim submission to the date the claim remittance advice was received to the date the claim was finally paid and try to determine where bottlenecks arise.
Why go with CapMinds RCM Services? Charge capture is important in a hospital’s revenue growth. Choosing the right RCM partner will help you to achieve successful results in terms of medical billing collections.
Get started with CapMindsRCM services for a successful charge capture process – our RCM experts are available 24/7 by helping practices to overcome the challenges with charge capture quickly and in improving your overall practice revenue.
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CapMindsRCM Services Contact us CapMinds Technologies 42240 Mason Ridge Ct, Brambleton, VA 20148 +1 571.213.3245 info@capminds.com https://www.capminds.com
