Accurate medical coding plays a significant role in managing healthcare information and patient care quality. That’s why routine medical coding audits are strongly encouraged to ensure that facilities and organizations (like yours) have the proper procedures and policies in place to deliver high-quality medical coding.
According to the American Medical Association’s “13 reasons your practice should have a medical record audit,” an audit is a preventative measure if done at least once a year. At Advantum Health, we agree. With routine audits, you’ll be able to identify coding and modifier errors, such as outdated codes or false billing. You can even discover ways to improve your current medical coding efficiency and accountability.
With the majority of healthcare organizations authorizing compliance programs, coding audits are needed more than ever. Without audits, you may be presented with compliance risk and lost income.
Advantum Health understands the value of a third-party coding audit. With the evolving changes in coding and compliance requirements, it can be challenging for a practice or healthcare organization to keep up. According to a study by the Office of the Inspector General (OIG), nearly 42% of Medicare E/M services are coded incorrectly. The report also found that Medicare inappropriately paid $6.7 billion for claims with incorrect coding and documentation.
Often having an outside look into your coding practices can help identify coding errors. While periodic audits not only help you avoid financial and legal ramifications, they identify opportunities where the practice is undercoding and not receiving the true value for the services it offers.
At Advantum Health, we provide proactive claim and document reviews to identify coding and modifier errors, expert coders to help you avoid legal and financial exposure, unbiased reviews to prepare you for OIG and RAC audits, comprehensive analysis of your contracts, claims, and payments, and any necessary training and education for your staff and physicians.
For more information on medical coding audits, call Advantum Health today!