A hospital charge master is the most crucial item in determining a hospital's cash success. If the codes aren't up to date, your claims won't get paid properly, if at all. If you don't have all the charges your facility provides listed, they can't be picked, which not only limits cash, but can open up a compliance can of worms.
Studies have shown that most hospitals, on average, only have a charge master review performed every three to five years. T. T. Mitchell Consulting, Inc, has done reviews of hospitals that haven't had a comprehensive review in as long as seven years. It's hard to imagine, but not only have some of these hospitals lost millions of dollars in cash and revenue, but they had put themselves right in line for the Office of Inspector General (OIG) to come in, perform an audit, and cite them for fraudulent billing practices.
CPT-4 codes (Current Procedural Terminology, 4th Edition) change every year; so do HCPCS codes (Healthcare Common Procedure Coding System). Sometimes, codes are eliminated or added; other times, only the descriptions will change. Sometimes, regulations change that say certain codes must be billed together; other times, codes are altered so that can be billed separately. At the same time, considerations need to be made in reviewing revenue codes to insure that they're being used properly with those other codes.
T. T. Mitchell Consulting, Inc has worked on charge masters across the country, from New York to North Dakota, from New Jersey to Alabama. In most cases, there has been a significant increase in revenue and cash. Our main goal isn't that, though it's a nice byproduct. Our main goal is making sure our clients are maximizing their full charging potential, code compliant, and not undercharging for services. We take charge master consulting, based on your requests, to the next level.
Can we ask you a question? Do you have a charge master coordinator on staff? If not, why not let T. T. Mitchell Consulting, Inc be that person for you? We can take on the job of making sure your charge master is consistently up to date, and also make sure your directors know when new codes exist, as well as when old codes have been deleted. We offer multiple plans that can include updating your system from our offices if that's requested, or working with a representative in your facility, as well as a host of other services we can provide as they relate to charge capture. Check out our article on how we provide charge master services.
For more information, please contact:T. T. Mitchell Consulting, Inc.
P. O. Box 2512
Liverpool, NY 13090
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