I really am going to stop talking about finding missing revenue for your practice.
Just not today.
Today’s BIG Idea is actually two ideas to find missing practice revenue. The first example is for practices who get revenue information from an outside source. Listen for how a pathology practice in the Southeast looks for potential missing revenue by data mining for gaps in the feed of accession numbers coming from the hospital. If you have hospital based charges or other ancillary services that do not flow through your revenue cycle like traditional charges do, this idea may save you time and money. The second idea is from a practice in the Midwest who is building a customized claim scrubber. We started by looking for visits where a new patient visit was about to be charged where an established patient code may have been more appropriate. Then the practice manager suggested we automatically find the reverse — established patient codes that were about to be billed for a patient the practice had not seen in over three years. Again, potential revenue for the practice. I hope these podcasts are changing your bottom line, too.