Medical Billing Audit Services in USA
Do you want to supercharge your practice by preventing all errors that can exert a negative impact on your healthcare practice? MedStar Billing Services is concerned with the financial stability of your practice and therefore effectively reviews the medical bills and healthcare records to make sure that providers bill for the right services and get reimbursed without any obstacle. If you are looking for the best solutions to protect the revenue of your practice by ensuring accuracy and compliance then get the benefit of MedStar’s Medical Billing Audit Services.
Audit your practice now!
Reliable & Transparent Medical Billing Audit for Healthcare Practices
Medical billing audit is a complex process but highly essential for the stability or integrity of a healthcare practice. This involves the thorough monitoring or analysis of the clinical documents or records which are under the control of medical facilities. Medical Billing audit also involves the examination of all the billing documents submitted to the payers or insurers. The main goal of a medical billing audit is to determine each aspect or reason for inappropriate practices.
At MedStar Billing Services, we have a team of professional billing audit experts who carefully evaluate the medical billing data submitted to the payers so your practice experiences the maximum rate of claim acceptance rate and reduced number of claim denials or rejections.
They are experts in providing medical billing audit services that can help your practice maximize the rate of reimbursements. There are multiple benefits of our medical billing audit services as you can get a complete and detailed insight on how your practice’s billing process is working and where you stand in the healthcare field. Our experts do not just make efforts for robust claim submission but also locate the revenue leaks that in most cases remain hidden and the healthcare providers think that their billing process is smoother and efficient. However, our medical billing audit services can help you to immediately identify the hidden glitches. They spot the errors and then resolve them so you never miss any opportunity to get financial profits and always stay ahead in a row of your competitors.
4 Essential elements of Medical Billing Audit
Expertise
Accuracy/Precision
Profitability
Peace of mind
Our Medical Billing Audit Services Process
Our medical billing audit experts have years of experience in handling the process of medical billing audits so your practice generates amplified revenue with the prevention of all errors.The process of medical billing audit comprises the following steps:
- The initial step is to determine the scope as well as the purpose of the audit.
- The second step involves the selection of records to perform the audit.
- Documents are analyzed and reviewed and comparison with the claims also occurs.
- Multiple aspects of the claims are determined which include consistency, accuracy, and precision. Other things involve regulatory compliance etc.
- After completing the process of audit, results are gathered and assembled and reports are formed.
Whether you are a part of a small or large healthcare practice, by choosing MedStar’s medical billing audit services, you can optimize your billing process and prevent all issues or errors that can result in the loss of revenue for your healthcare practices.
Medical Billing audit services can analyze multiple factors of your billing process and answer the following questions:
Is the coding process error-free?
Are claims submitted rapidly?
Are all the documents accurate?
Are account receivables effectively managed?
Is my practice getting the increased revenue?
Is there any revenue leakage in the medical billing process?
Is there any region of RCM that needs some improvement?
Our Medical Billing Audit Services Process
- Professional expertise in medical billing audit
- Timely and faster submission of claims
- Rapid analysis of claims
- Complete search and verification of patient IDs
- Verification of patient demographic information
- Accuracy in payment processing
- Accurate coding
- Accurate use of modifiers
- Check for duplicate billing
- Ensure Compliance
- Avoid the incorrect fee schedules
- Reducing the Coding and billing errors
- Reduction of Unbilled services
- Identification of revenue loss areas
- Medical chart reviews
- Accuracy in Revenue Cycle Management
- Tailored solutions
- Prevention of fraudulent payments
- Maintain the cash flow
- Improved patient care
- Enhanced patient satisfaction
- Detailed and comprehensive audit reports
So if you are concerned with the financial growth and stability of your healthcare practice then outsource the Medical Billing audit services to MedStar Billing Services. By giving the billing audit responsibility to our experts, you can focus on those operations that truly matter, especially patient care that requires your detailed attention. Stop searching for the medical practice audit companies near me and outsource the Medical Billing Audit services to us.
Expertise to tackle the reporting challenges of Medical Billing Audit
After performing the complete audit of healthcare practice, our experts develop a strategy to diminish all issues that are harmful for financial growth and can cause a reduction in revenue.
Whether there is an inaccuracy in a document or claims are not submitted on time and to the right providers, our medical billing audit services can cater to all needs and ensure your financial success.
Clean claim rate
HIPAA Compliance
Enhanced Revenue
Faster payments
Medical Billing audit
Our medical billing audit solutions are comprehensive as they cover each type of claim including Medicaid, Medicaid as well as other federal and commercial insurance networks and self-pay.
Medical coding audit
Our medical coding audit services cover all different types of medical records which include outpatient, inpatient etc.
Clinical audits
The goal of our external and internal clinical audit solutions is to completely evaluate the quality and all other aspects of patient care and clinical outcomes.
Audit of Medicare Patient Charts
We also perform the audit of Medicare patient charts to make sure that you get the maximized reimbursements for your provided services.
Collection aging audit
All the aged claims also undergo the audit. This results in the refiling of denied claims that ultimately results in improved and smoother cash flow.
Our Medical Billing Audit Solutions
We optimize your Medical Billing Process & boost your Revenue
Internal audit
We make a complete analysis of all internal processes and documentation of your healthcare practice. An internal audit aims to ensure that healthcare providers get the increased rate of reimbursements and that all processes meet the requirements of healthcare industry standards.
External audit
All claims and payments from third-party payers including Medicaid and Medicare are also reviewed. Other responsibilities of external audit involve resolving underpayments, aged receivables and all other billing issues.
Comprehensive audit
Our approach to your practice audit is comprehensive and effectively evaluates all the billing and coding operations with ensured compliance assurance.
Prospective audit
Before submission to insurance networks, all claims are analyzed and reviewed to prevent denials or rejections.
Retrospective audit
This involves the claim analysis after the claim is processed by the payers. If any error is identified then is it immediately resolved so your revenue cycle management gets optimized.
Elevate the revenue cycle
Types of Reports developed after the thorough Audit
Coding audit report
Charge capture analysis report
Denials analysis report
Compliance Risk Assessment Report
Risk adjustment data validation
Charge validation
Data Abstraction Review
Our Exceptional post Audit actions
We develop the most suitable, effective and appropriate strategies or action plans considering the audit results
- Make a list and then prioritize the issues that need to be first resolved
- Accurate revision of internal procedures and policies
- Carefully analyze the key performance indicators
- Follow-up audits to prevent future consequences
- Ensuring real-time feedback and error detection
Secure your Practice with a Medical Billing audit
Get our Medical Billing audit services and elevate the standard of your practice. Stop getting overwhelmed with the billing and coding errors and improve your net collection rates. So without any delay, schedule a medical billing audit today!