revenue cycle audit
We work closely with physician practices and we are a trusted ally for physicians who might be experiencing difficulty with their revenue cycle. We conduct Revenue Cycle Audits to identify the areas of exposure at any point in the 12-steps of the billing cycle. We recommend solutions and are available to assist the physician with any aspect of improving the cash-flow to the practice; from credentialing and contract negotiation, to documentation analysis in chart audits and billing.
The process of capturing a charge for the services provided, billing and posting accurate payments is an error-prone one. Physicians’ Ally, Inc. has experience tackling these problems, assisting with turn-around, and monitoring ongoing performance for the physician practice.
Please contact Physicians’ Ally, Inc. about your Revenue Cycle Audit needs. We can estimate a fixed project fee and assemble a team to address your unique needs. Getting started is as easy as executing our standard Consulting Agreement and providing a retainer for the first part of the audit process.
Call (303) 586-9390 or email firstname.lastname@example.org and we will respond in 1-2 business days.
Services we provide
Physicians’ Ally, Inc. can allocate a team of experts for all aspects of the Revenue Cycle; to assess the practice’s unique situation, propose recommendations to the leadership, and assist with putting performance metrics in place for regular monitoring of billing operations.
Generally, Physicians’ Ally, Inc. approaches a Revenue Cycle Audit with 4 ideal goals represented by these broad categories :
- Automation: Moving the practice’s billing processes from paper to electronic, including scheduling, claims entry, and deposits. Physicians’ Ally, Inc. works with many different practice management solutions, and can run reports and provide suggestions for improvements for the practice.
- Peace of Mind: Improvements in the billing operation should ensure 100% of charges are captured and that the practice is more compliant with federal regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) and the False Claims Act.
- Maximization: Each role within the Revenue Cycle will be identified and documented, ensuring ownership of important tasks. Fees would be accurate and collections improved, shortening the cash-flow cycle.
- Excellence: A well-documented process should increase provider and staff education, and the practice benefits from a decrease in errors as well as decreases in dropped charges and the potential for fraudulent activities.