Healthcare experts state that charge capture errors or missing charges should occur on less than two percent of accounts or claims as a best practice standard. Even at two percent, these errors can equate to millions of dollars per year for a typical health system. Charge capture errors aren’t the only inaccuracies that can be hazardous to a hospital’s financial health, however. Add up the healthcare regulatory compliance fines related to non-compliance and settlement costs associated with overcharging, and a hospital could be looking at a significant impact to revenue at a time when margins are eroding.
So, how can you ensure that your charge capture is accurate and you’re being reimbursed appropriately for your medical services? Click here to read the Journal of AHIMA article “The Two Percent Solution: Avoiding Undercharging and Improving Revenue for Your Hospital,” written by Change Healthcare, that shares three important steps one can take right now to start improving charge capture.
This article is sponsored by Change Healthcare.