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Missing or Delayed Charges: Beating the Clock
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Welcome to episode three of the RevTech Rx Podcast- Your prescription for a healthy revenue cycle!
The panel from episodes one and two returns to episode three to talk about missing and delayed charges for services rendered. A missing charge is a charge that wasn't captured by the time the patient bill or claim was sent. When a missing charge is captured, a delayed charge generates a new bill, which is sent to the patient.
CFOs are aware of missing and delayed charges, but, in a manual process, it's not easy to identify the causes. The issue is when delayed charges occur, you need to generate a new invoice, revised claims, and spend more money addressing the error. The key to the problem exists within the timely filing limits of insurance companies. Once the invoice is submitted after the timely filing limit, the invoice will not be paid out. The entire process becomes a cost to get paid properly which affects the bottom line of hospitals.
Implementing proper charge capture and revenue reconciliation process through automation, can reduce the number of late payments, improve income flow, and create a better experience for hospital clients.
Our panel is made up of experts from Avelead, a company that specializes in revenue cycle automation.
David Kosloski- Host
https://www.linkedin.com/in/dkosloski/
Jawad Shaikh- CEO and President of Avelead
https://www.linkedin.com/in/jwshaikh/
Laura Fox- Delivery- Solution Director at Avelead
Greg Forshey- VP of Client Success at Avelead
https://www.linkedin.com/in/greg-forshey/
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Supervision of your hospital’s revenue integrity can be complex and time-consuming. With an ever-shifting landscape of rules and regulations, it can be difficult to keep up with the world of revenue cycle management. Welcome to RevTech Rx, a podcast designed to educate and inform about revenue integrity and revenue cycle management strategies. Kickstart (or restart) your revenue cycle tactics with tips from industry thought leaders and revenue experts on a wide range of valuable and specific topics.
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