Billing Optimization and Audits
VUEMED assists hospitals in understanding the degree to which over-billing and billing errors are putting them at risk of committing unintentional billing fraud. Our team also determines the amount of missed revenue due to under-billing or inaccurate billing.
VUEMED provides bias-free, straightforward data that quantifies the significance of the problems and gives clear indications as to what is chiefly responsible for causing them. The causes of such problems are diverse, but their expression typically boils down to a core set of issues:
|1||Failure to record a product used|
|3||Incorrect product recorded|
|4||Product recorded but not used, including automatic bulk billing of case cart items, whether used or not|
Whether these kinds of billing errors are due to the lack of effective technology, inadequate training, or poor processes, they represent a serious liability risk for any organization, as well as a missed opportunity for capturing additional revenue to make the department more profitable. Furthermore, product documentation mistakes made in patient procedures don’t just affect billing. They also adversely affect patient safety since product usage errors made at the point of care enter the patient medical record and thus carry over into the clinical documentation process.
VUEMED attacks these problems at their source. With VUEMED’s support, departments are able to identify and solve these billing problems, mitigate their risk, optimize their billing output, and generate additional revenue.
VUEMED achieves this by using its VueTrack™ technology at the point of care to document accurately all products used during each clinical procedure, and then to identify all disparities in the documentation process. All information is collected electronically to allow for easy computation and reporting.
The aggregate data that is collected over a period of time in test areas of a department provide hard evidence about the mistakes that led to the billing errors, the majority of which are unintentional and can easily be prevented once identified. Our team also shows how other errors are better addressed with staff training, a stronger delineation of roles and responsibilities, and clear accountability guidelines.