Physician practices may miss out on reimbursement through simple mistakes, according to an AAPC report written by Jackie Stack, CPC, CPC-I, CEMC, CFPC, CIMC, CPEDC.
She said practices make the following mistakes that result in missed payment:
• Forgetting to charge for an EKG performed on a patient.
• Forgetting to charge for a CLIA-waived lab test despite purchasing the tst kits.
• Injecting a patient with a drug but only charging for the injection.
She said performing a chart audit is a crucial step to identify missing charges that can be found and prevent the loss of revenue. A chart audit can also give practice administrators a good idea of how the practice is performing as a whole.
A chart audit will demonstrate how well the practice is capturing charges for services and how well the staff follows up on denied claims. Ms. Stack also recommends analyzing whether code selection, charge entry, claims submission and payment processes are accurate.
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She said practices make the following mistakes that result in missed payment:
• Forgetting to charge for an EKG performed on a patient.
• Forgetting to charge for a CLIA-waived lab test despite purchasing the tst kits.
• Injecting a patient with a drug but only charging for the injection.
She said performing a chart audit is a crucial step to identify missing charges that can be found and prevent the loss of revenue. A chart audit can also give practice administrators a good idea of how the practice is performing as a whole.
A chart audit will demonstrate how well the practice is capturing charges for services and how well the staff follows up on denied claims. Ms. Stack also recommends analyzing whether code selection, charge entry, claims submission and payment processes are accurate.
Related Articles on Coding, Billing and Collections:
Tenet Surgery Centers Renew Payor Contract With Cigna
AAPC: Work to Avoid Secondary Insurance Policy Confusion
California Surgery Prices Vary Vastly by Area