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An independent study of the MedAptus Charges in Hand™
solution at The Lahey Clinic showed the elimination of lost
charges, reduction in the time to charge capture to less than
one day and reduction in the average days to payment by more
than 10 percent.
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While the task of developing and implementing an effective program
to monitor compliance may appear daunting, the consequences
of failing to do so can be dire. It is important for physician
practices to remain informed of their obligation in submitting
claims for payment, particularly those to the Government.
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The results of an independent study found that the MedAptus
Charges in Hand™ solution demonstrated a 9% increase in
revenue captured and a 17% improvement in coding accuracy for
a New England-based physician practice.
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The implementation of the MedAptus Charges In Hand™, Code
Assist™ and Coding Reference™ solutions at University
Physician Associates (UPA), resulted in operational improvements
including a 13% increase in gross charges per encounter, reduction
in average days to payment by 15 days and more importantly,
enabled UPA to implement a comprehensive coding and compliance
program designed to monitor their compliance with the numerous
Medicare and Medicaid medical billing rules.
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The study results indicated that an increase of 47.5% in the
ratio of encounters captured by the physicians using the MedAptus
solution. This increased encounter capture resulted in an estimated
increase of $35,055 in gross charges captured over the two-month
period.
In addition, the study indicated that there was a 40.9% decrease
in the time lag from the date of service to entry of charges
in the billing system. The MedAptus solution greatly enhanced
the workflow process required to correctly code the encounters
and the time necessary to present these encounters to the billing
system for processing.
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View PDF (211 KB)
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