Error-free medical coding is critical in managing the quality of patient care and healthcare information. This is why it is essential to conduct regular audits. There are many advantages of medical coding for healthcare providers. Regular audits ensure that organizations and facilities have the right policies and procedures in action for providing top-notch medical coding.
Advantages of Medical Coding Audit
There are various reasons why every practice needs to consider a regular audit of the medical record. If healthcare providers perform an audit once every year, it would be a great preventive measure. Regular audits help you identify modifiers and coding errors like false billing or outdated codes. Moreover, it also allows you to find new ways to enhance your recent medical coding accountability and efficiency.
Healthcare organizations that authorize compliance programs must consider regular coding audits. If they don’t consider regular audits, the chances of lost income and compliance risk will be very high. There is a constant change in compliance and coding requirements, so it is very tough for healthcare organizations or practices to meet standards. By hiring Fast Billing Solution’s medical coding audit service, you can rest assured that it will be done with absolute satisfaction.
Recent research by the OIG identified around 45% incorrect coding of Medicare services. It also revealed that Medicare paid an amount of $6.7 billion inappropriately for medical claims with incorrect documentation and coding. When you hire a company like Fast Billing Solutions for regular audits, it will help you find coding errors.
Regular audits are not only helpful in avoiding legal and financial ramifications, but they also help spot opportunities where healthcare practices are not coding rightly and not getting the actual payments for their services. There are so many advantages of medical coding audits that healthcare organizations and practices will receive. Fast Billing Solutions can help you with top-quality coding audits with a team of experienced and talented coding audit experts.
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