Outpatient Surgery Magazine - Subscribers

What's the Harm? - December 2015 - Outpatient Surgery Magazine

Outpatient Surgery Magazine, providing current information on Surgical Services, Surgical Facility Administration, Outpatient Surgery News and Trends, OR Excellence and more.

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2 2 O U T P A T I E N T S U R G E R Y M A G A Z I N E O N L I N E | D E C E M B E R 2 0 1 5 Are You Leaving Money on the Table? Here's how to overcome 4 common revenue challenges. W hat are the top revenue challenges that surgi- cal facilities face, the issues that give your business office fits and give you sleep- less nights? To find out, our billing com- pany, Medical Billers and Coders, conducted a survey of around 1,000 facilities, asking administrators, office managers and providers to identify the trouble spots in their revenue stream. Surprisingly, we found that just a handful of common problems are causing the majority of your headaches. Here are the 4 most common reasons for revenue dip, according to our sur- vey, and how to tackle them. Inaccurate coding Accurate coding is the No. 1 struggle. A majority of our respon- dents said their billing team was inefficient and overwhelmed, especially with ICD-10. Add to this a growing shortage of certified and experienced coders, and you get more coding inaccuracies. In addition to securing a well-trained coding team, closely monitoring your claims — whether you have 3 on-staff coders or work with a third-party company — can help ensure correct coding each time. The best way to do this is to hold periodic internal audits. For these audits, select a sample of your completed claims (a common sample 1 C O D I N G & B I L L I N G Prerna Gupta z SELF-SABOTAGE Are you making one of these common revenue cycle mistakes? Pamela Bevelhymer, RN, BSN

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