In mid-September, healthcare revenue cycle and information technology executives gathered in Chicago to discuss the evolving nature of the hospital and health system revenue cycle and how they are responding to its challenges, disruptions and priorities according to Becker’s Hospital Review. The conversation was part of Becker's Hospital Review 4th Annual Health IT + Revenue Cycle Conference.
Specific to the revenue cycle, 74 percent of respondents said growth in clinical denials and patient receivables has been the most significant disruptor to their organizations' revenue cycle operations. And when it comes to the most important revenue cycle function, 67 percent of respondents recognized collecting revenue as the No. 1 function in their organizations; 25 percent of respondents chose capturing revenue; and 8 percent chose generating revenue as their top priority.
When selecting a coding denial partner, Aviacode provides a cost-effective solution for revenue recovery to ensure that appropriate payment is received for services provided and properly coded. Denied claims are lost money, especially when properly coded claims never get resubmitted. Sifting through the thousands of denial reasons to identify and correct errors is time consuming and costly. Administrative staffs are often ill-equipped or lack the time to tackle this monumental task.
Aviacode’s experience, expertise and price structure meet your needs and will efficiently and cost-effectively identify and correct coding errors, allowing you to collect the money you are owed. Our denials team is committed to improving your coding-related denial management process so you can free up cash and increase revenues.
Aviacode’s coding denial management process uses a highly effective workflow and process which includes top certified coding professionals. Outsourcing your coding denial management to Aviacode will help you increase income, reduce lost reimbursements and maximize your ability to collect unpaid claims.
When deciding what to outsource, coding was a favorite of participants. 32 percent of participants ranked coding as the most attractive function to allocate to a quality partner. As mentioned in Becker’s Hospital Review, coders represent a core staffing area for hospitals, where a shortage or lack of coding talent hurts efficiency. Participants' comments revealed the difficulty that organizations face when building competitive coding teams — a determining factor in why this function is attractive for an outside partner.
At the conference session, the director of patient financial services for an academic medical center in the Northeast said the competitive nature of recruiting coders drives a lot of organizations to outsource. Outsourcing may be especially beneficial for providers in remote geographic locations where recruiting top coders can be especially challenging.
As critical as coding may be, the Becker’s article highlights that health systems today are increasingly facing queries from vendors or partners who claim expertise in not one function of the revenue cycle, but the entire operation. When selecting a partner specifically for coding denial management or outsourced coding in general, put Aviacode at the top of your list.