December 08, 2014
Billing reports are the lifeblood of your medical practice's financial stability. They tell you everything you are doing well - and doing not-so-well - and should be run and reviewed practice-wide on a weekly, monthly, quarterly, and yearly basis.
Reports such as A/R by Facility/Provider/Carrier, Payment Summary, Adjustments, Patient A/R, Appointment Types, New Patients, etc. are all tremendously insightful. Generally speaking, these are office type reports and can be primarily run from any practice management or billing system.
However, what about the data you don't realize you are missing? The data not on these reports because nobody is aware that it should be? I'm talking specifically about the out-of-office or rounding charges. You know, the stuff providers are supposed to remember to document somewhere, then supposed to bring back to the office, so it makes its way to the billers, where its supposed to get keyed in quickly and accurately to bill out. More often than not, this data doesnt entirely make its way from the rounding environment to the office for billing and reporting. What then?
Tools like CodeHERO, a cloud-based solution for practices that round, bridges the gap between the office environment and the rounding environment. By connecting to hospital registration systems and the practices' PM/billing system, data (demographics and insurance) is received from the hospital, real-time rounding list updates guarantees all patients are seen as necessary, and a simplified charge capture functionality collects all documentation and billing requirements. Coupled with transparency for the billers to "see" what is happening in the out-of-office setting, the assumption that all rounding charges have been captured and billed is replaced by factual reporting and oversight into the patient volume, fed electronically into the practice PM/billing system. Goodbye missing data. Goodbye manual data entry of rounding data. Goodbye incomplete reports. Goodbye missing revenue.
Keith Stewart VP of Sales at CodeHERO -- Helping medical practices and rounding providers stay competitive, efficient and profitable. CodeHERO is a census management, revenue cycle optimization, and performance analytics application used by practices that round to improve their clinical and financial results. All of our customers have an EMR in place. Find out why they still use CodeHERO, request your free demo today. www.gocodehero.com