Three Reasons a Software Coding Tool Improves Revenue

by | Jun 7, 2019 | Healthcare

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Studies show that coding errors lead to insurance claim denials up to 90% of the time. Since many healthcare facilities rely on insurance claims to pay the bills, this is a detriment that can easily be avoided. Whether or not you have explored software as a business operations solution, it is worth knowing one of the main goals of software developers is to reduce repetitive human errors. An evaluation and management coding tool is designed to set up quality assurance protocols that catch errors and help your staff correct them in real time.

Here are three reasons why a software coding tool improves revenue.

Prevents Most Errors

As your coding team is entering data, errors occur for a number of reasons. Sometimes, they are unable to correctly read the writing on the charts. Other times, they make innocent mistakes like inputting information in one field instead of another. Software designed for medical coding professionals leads the data input through prompts. The software is set up to detect when information was incorrectly inputted. It can also be set up to ask users to double check their work before they move on to the following steps.

Real Time Quality Assurance

Since software can double check data inputted in real time, you have ongoing quality assurance. If your insurance claims are denied too much, then this is a viable solution. If your staff is already doing a good job double checking their own work, software can be a backup.

Compile Reports

Once you have migrated onto a software-driven system, you will have access to your data in a manner that makes it work for you. Compiling reports according to desired parameters helps you see trends, cut costs and improve revenue.

For more information about an evaluation and management coding tool, contact GeBBS Healthcare Solutions.

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