What are the Types of Audits
Medical coding and billing play a huge role in the accuracy and management of care. Medical coding audits ensure that healthcare organizations have the right policies and procedures in place. Coding audits can reveal outdated codes or fraudulent billing, issues that likely wouldn’t have been discovered otherwise.
Why Conduct a Medical Coding Audit
Without auditing your medical code, your establishment is at risk of compliance risk and lost revenue. WC can conduct audits that help practices better understand current problems and develop and implement a strategy to remedy the issues.
What are the Types of Audits
Coding audits in the healthcare setting can be done internally or externally. Here’s a look at the two different types of medical coding audits:
Internal Coding Audit:
Internal audits are more common in large institutions that have the resources to support an entire audit department dedicated to reviewing procedures and processes. In many smaller establishments, a medical coder who is trained to conduct these audits would do this.
External Coding Audits:
Third-party coding audits are done by an organization outside of your own practice, such as a medical coding audit company. Usually, these businesses have technology much more up-to-date and advanced than what a typical healthcare organization would have.
Benefits of Getting One
The purpose of an audit is to identify weak points in your organization and find and implement improvements. It can be stressful for a medical organization to have a coding audit done as it shines a light on all the mistakes being made. But rest assured that third-party organizations are there to help patch these holes so that your business can run smoothly. An audit can help a business in the following ways:
- Increase compliance and reduce fraud
- Improve reporting and tracking accuracy
- Provide coding education to staff
How Workers Compensation Revenue Solutions Can Help
WCRS’s team is dedicated to bringing customers honest and tangible results through planning and teaching. We believe that in-house coding can be too big of a burden for small businesses to handle, and that’s why we want to help. When WCRS performs a coding audit, we ensure that we are serving our customers well, with honesty, accuracy, and reliability.
