Charge captures are an integral part of your hospital’s revenue cycle. While many hospital executives believe this, almost half bring it up once a month or less. Without proper charge captures, your hospital could be losing out on a substantial amount of revenue. Here are four ways to improve your facility’s charge captures.
Make Charge Standards Consistent
You should establish policies for your charge captures. These policies should be the same for each department in your hospital. Consistency can help to decrease confusion. Additionally, employees can help one another if someone doesn’t quite understand.
Use a Charge Capture System
Traditionally, hospitals have used paper-based methods for charge captures. Today, however, there are various technologies available that can help. Both standalone applications and integrated systems can help hospitals to identify and capture charges. They enable you to see what has been billed as well as what has been missed.
Hire a Partner to Help
An effective way to improve charge captures is to hire a partner who can take care of your charge captures for you. With medcom benefit solutions, you receive an audit of your bills to find missed charges as well as other errors that can affect your revenue. Recommendations can then be made to help you correct errors and improve your practice. These improvements can also help to better your compliance.
Regular communication is key. Bring together teams that deal with charge captures regularly. These meetings provide a platform to discuss charge captures, including if any charges have been missed or are incorrect. This provides your teams with the opportunity they need to correct errors quickly.
Not giving enough attention to your charge captures can end up costing you millions of dollars. Issues can impact your compliance and reduce your productivity. If you haven’t been giving your charge captures the attention they deserve, now is the time to start.