How to Avoid the Cost of Poor Charge Capture

Poor charge capture can have a drastic impact on a healthcare organization’s bottom line. Regardless of what causes errors to take place, they end up costing providers thousands of dollars. Providers need to find a way to improve their charge process to protect their bottom line and increase their revenue.

Why do Charge Capture Errors Happen?

Charge capture errors can happen for any number of reasons. The most common reasons that errors happen include:

Software Malfunction

Old or out-of-date software may not have what your organization needs to optimize its process. Not only this, but low-quality technology errors are difficult to catch and correct. This is a sign that it is time for your practice to make an update.

Coding Mistakes

The most common reason that errors happen is that a billing team is not properly trained on what codes to use. This is often hard to keep up with as billing departments have some of the highest turnaround rates of any other department. Keeping up with training is difficult.

Human Error:

This is another common reason for errors and is also difficult to correct. All humans make errors sometimes. After all, they are not robots.

How an AI-Assisted Charge Capture Can Help:

Improve Performance with Accurate Predictions

Decrease human error and coding mistakes with an AI-assisted charge capture solution. This tool makes accurate predictions throughout each billing process to ensure your practice is delivering the most reliable information. Not to mention, you do not have to train it. Your vendor is responsible for keeping the software completely up to date and regulated to the industry's top standards.

Streamline Billing Process

By relieving yourself of many of the time-consuming and tedious components of the billing process, you can streamline it. Providers will spend less time on each charge, streamlining the process overall and helping your team get more done each day.

Faster Return on Payments

Accurate claims equal quick payment. Providers that utilize AI-assisted charge capture can see a faster return on payments and reimbursements from insurance companies.

What to Look for in A Vendor of Charge Capture:

24/7 Support

Support from your vendor can make a huge difference in the quality of your charge capture software. They should dedicate time to training you and your team to make sure you know how to effectively use the solution. Not only this, but they should make sure the software is always up to date with the latest developments in billing. Lastly, your vendor should offer 24/7 customer support to make sure you always have someone to answer your questions.

Experience

Only years of experience can teach a vendor how to build the best software possible. Pick a vendor of charge capture software that knows what they are doing and has proof that they have the best to offer your organization.

Flexibility

Lastly, your charge capture software vendor should be flexible to the needs of your organization. They should care about what your practice needs to be successful and tailor the technology to those needs.

To learn more about a vendor of high-quality charge capture software, click here.