CureCloudMD is a US-based medical billing company that is offering a free medical billing audit to all sizes of healthcare practices in the USA. Our medical billing experts will walk through your healthcare revenue cycle management, run by your medical billing reports, and study your claim denials/rejections. So we can provide you with better insights into the errors and mistakes that are affecting your medical claims and reimbursements eventually.
Founded in 2012, CureCloudMD has been helping several healthcare practices to excel in their revenue growth with a complete range of medical billing and coding outsourcing solutions.
We have launched a limited-time offer for all healthcare practices in the USA. Our medical billing company is offering a free pre-onboarding medical billing audit to healthcare practitioners. In this medical billing audit session, our revenue cycle management experts will monitor, identify and suggest reliable solutions to reduce risks, prevent revenue loss and resolve compliance issues.
After this medical billing audit, you can also request a customized package of our medical billing and coding services, medical credentialing services, account receivable (AR) recovery services, claim denial management services, prior authorization, and insurance eligibility verification services.
Why Get A Free Medical Billing Audit From CureCloudMD?
Our Free-Of-Cost Medical Billing Audit Will Empower Your Practice In The Following Ways;
Our medical billing experts help you analyze the gaps and weaknesses in your healthcare revenue cycle management.
We study your medical claims and identify areas of under-coding and over-coding so you can resolve the loopholes in your medical billing and coding procedures.
We protect your medical billing system from fraudulent billing and help you ensure compliance with the legal standards of medical billing and coding.
We also guide your office staff to prevent the use of outdated medical codes and upgrade your medical billing process according to the updated medical billing and coding guidelines.
For those who are unaware of what a medical billing audit is and why it is so imperative for the progress of a healthcare practice, let’s probe into more details about medical billing audits.
What Is A Medical Billing Audit?
An organized process to examine and evaluate the effectiveness and reliability of clinical documentation, medical account collections and the progress of the medical billing cycle is called medical billing audit. This process enables healthcare practitioners to thoroughly check all records, monitor the areas of mistakes and review the medical billing data that is submitted to the insurance companies.
It enables them to obsolete inappropriate billing and coding practices such as using incorrect patient identifiers, incorrect modifiers and wrong medical codes.
Since medical billing and coding practices impact the bottom line directly, therefore, it is important to eliminate potential compliance issues in the procedures. It requires different data sources to conduct a medical billing audit. Therefore, when going through a billing audit, make sure that you have complete clinical records, medical records, X-rays, lab reports, and financial records i.e. charge sheets, remittance advice, and account receivable ledger. Also, keep policy-related documentation on the same table so you can review the insurer’s and federal requirements along the medical billing audit procedure.
There are two types of medical billing audits;
Prospective Medical Billing Audit: When the medical billing audit is conducted before the claims are sent out to the payers.
Retrospective Medical Billing Audit: When the medical billing audit is conducted after the fact.
Some healthcare practices prefer to conduct the prospective audit for the new providers whereas a retrospective audit of the current providers.
Scope of Medical Billing Audits
Medical billing audits are more comprehensive than coding audits because it covers all the areas of medical billing and healthcare revenue cycle management starting from insurance verification processes, medical coding (ICD and CPT coding), claim submission process, payment posting process, claim follow-up to adjudication processes and claim denial management processes.
What Is Not Included In A Medical Billing Audit?
Medical billing audits are highly specific for medical and coding procedures only. Therefore, it doesn’t include the level or scope of the entire healthcare practice, medical necessity, pricing structure, or items/ services that healthcare providers provide.
However, the rest of the aspects of healthcare practice are reviewed in other different ways. Medical care providers and insurance payers address these matters using other mechanisms completed by qualified personnel.
Benefits of Billing Audits
Regular medical billing audits are very significant for every healthcare practice that wants to succeed in revenue growth. Performing regular medical billing audits assists practices to improve their medical coding procedures, clinical practice as well as administrative responsibilities. Medical billing audits provide the following benefits to a healthcare practice;
1. It Improves Your Medical Coding Procedure
Medical billing audits enable medical coders to identify their mistakes and problematic areas in their coding procedures. Also, they can spot compliance issues with insurers and government payers to obsolete inappropriate coding practices.
When medical coders will have complete insights into their practice then they can easily identify intricacies and adopt instructive ways to rectify coding errors. It also helps medical coding staff to review their coding practices, learn the latest medical codes and upgrade their system accordingly.
It encourages medical coders to regularly educate and train themselves to learn proper medical coding protocols. With efficient medical coding, a healthcare practice is less likely to get a visit from government investigational auditors like RACs or ZPICs.
2. It Boosts The Efficiency Of Your Administrative Staff
Regular medical billing audits benefit administrative staff by confirming that medical claims are submitted the right way. Audits help medical billing and coding specialists to set the standard for the entire office staff and spare them unnecessary frustration by creating a positive and streamlined work environment.
Medical billing audits define the work scope of every individual in the medical billing and coding team which creates a culture of compliance that attracts and retains talented personnel for medical billing and coding.
If issues like under-coding, code overuse, improper unbundling habits, etc. consistently flow down the line then it frustrates the administration staff as well. Because they have to review a single medical claim several times, manage claim denials, appeal to insurance payers, and report to the practice’s management (which adds to the work stress of staff).
Therefore, when everyone has well-defined job responsibilities within the medical billing and coding team then your team is better able to scrutinize their work progress and address issues easily. When there are clear policies and procedures in place and they are also followed by the team with dedication then there are higher chances that your business productivity will improve to the next level.
With proper checks and balances through medical billing audits, your administration staff can easily ensure compliance with ICD-10-CM and assess EHR Meaningful Use Readiness.
Also, it helps your team to identify underpaid, non-paid and completely paid medical claims. So you can monitor your reimbursement deficiencies and estimate revenue loss accordingly. Not only it helps you how much of your hard-earned revenue you haven’t collected yet but also identifies the reasons behind it. For example, it gives a complete report of inappropriate coding, delayed claim submissions, incomplete documentation, and among other factors that cause claim denials and rejections.
Your team can enhance your medical billing and coding procedures to eliminate these errors and get back on track. Moreover, when medical claims are filed promptly then it reduces the claim denial/rejection rate which also decreases the chances of inappropriate payments.
The additional perk of medical billing audit is that it helps you track the payment behavior of your insurers. So you can improve your relationship with your payers using insightful information. A medical billing audit reveals any outliers that allow the healthcare practice to identify the errors and mistakes on time so you can easily address the problem before the claims software of a large payer highlights an issue and requests an external audit.
3. Clinical Benefits
Medical billing/claim audit enables healthcare providers to deliver better quality patient care services. It helps healthcare practitioners to follow the right procedure to deliver medical care services to the patients i.e. verifying patient’s coverage eligibility before the patient-physician encounters, documenting medical necessity of the following medical procedure or diagnostic services, and collecting updated patient demographics to imply accurate patient identifiers.
It streamlines the medical billing and coding procedures down the line, which motivates your administration staff to prepare accurate medical bills. In this way, the focus of the entire practice shifts to delivering high-quality care services to the patients that are much needed by them. When patients have a better experience at a healthcare practice then they are likely to refer to their social circle and return to the same provider more often. It builds trust in healthcare practice and increases the chance of business growth way forward.
In a nutshell, conducting medical billing audits helps healthcare practitioners to understand risks, create well-defined work scopes, align business strategies and streamline their workflow. Which improves their business functioning and increases their revenue growth eventually.
What Is The Medical Billing Audit Process Of CureCloudMD?
As far as processes are concerned, here’s how we conduct a medical billing audit of your practice;
You can contact us at our phone number or email or reach out to our medical billing experts via our official website.
You can request a free medical billing audit from our team.
Our team will determine the scope of the medical billing audit based on your practice’s size, requirements, and resources.
Then we’ll share this scope with you and request the information required to complete the audit efficiently and effectively.
This audit may include understanding the clinical staff involved, payer mixes, and the performance of your medical billing and coding staff.
We will assess every area of your practice’s healthcare revenue cycle management, medical billing procedure, medical billing software, EHR software, and medical coding process. In this way, we’ll determine the problematic trends or areas of potential risks.
Our team will also check the frequency of provider services and analyze the usage of CPT codes by your medical coding team and healthcare providers.
Lastly, our medical billing team will suggest corrective actions using these insights to improve your healthcare revenue cycle management and practice outcomes. It includes setting achievable SMART goals for improvement, addressing internal issues, and talking with payers who are making irrational delays in your payments.
You can also request a custom quote for our comprehensive suite of healthcare revenue cycle management outsourcing services including; prior authorization, insurance eligibility verification, medical credentialing, medical billing services, medical coding services, account receivable (AR) recovery services, claim denial management services, and payment posting services.
We offer the most cost-effective medical billing services in the USA. With 10+ years of experience in medical billing outsourcing services, CureCloudMD offers the most reliable, professional, and highly transparent healthcare revenue cycle management solutions.
Take a lead and benefit your practice with our limited-time offer of free medical billing audit service.
You can send us an email at email@example.com
Follow us on Social Media to stay tuned with our discount offers, exclusive services, and news about healthcare RCM, insurance policies, and much more;
1270 Waverly Ave, Farmingville, NY 11738
CureCloudMD has been helping several healthcare practitioners to streamline their practice revenue cycle management with a complete suite of medical billing and coding services for 10 years. Our management team is highly qualified and well-experienced in managing the revenue cycle of practices from different specialties.
Founded in 2012, CureCloudMD has helped hundreds of thousands of healthcare practitioners in all 50 states of the USA. Our services extend from front office services including; eligibility verification, prior authorization, charge entry, medical credentialing and provider enrollment to back-office administration i.e. medical billing and coding services, follow-up with insurance payers and payment posting.
This release was published on openPR.