By analyzing its coding and billing cycles, Memorial Medical Center in Port Lavaca, Texas, realized a revenue increase of $50,000 in one month, according to Healthcare Finance News.
The medical center contracted with a revenue consulting service, T-System, to evaluate its revenue cycle, and managers discovered minor errors and inefficiencies that added up to profit losses.
Memorial Medical properly trained its coders and physicians based on the consulting firm's findings and implemented a system with "hard stops" to keep any information from being left out of reports.
More Articles on Coding, Billing and Collections:
10 Revenue Cycle Sticking Points
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The medical center contracted with a revenue consulting service, T-System, to evaluate its revenue cycle, and managers discovered minor errors and inefficiencies that added up to profit losses.
Memorial Medical properly trained its coders and physicians based on the consulting firm's findings and implemented a system with "hard stops" to keep any information from being left out of reports.
More Articles on Coding, Billing and Collections:
10 Revenue Cycle Sticking Points
Money Matters: How the ASC Revenue Cycle Impacts Patient Satisfaction
16 Tips for Optimizing an ASC's Revenue Cycle