Auditing and Consulting

Regulatory compliance, fraud prevention, and financial correctness! The solution to preventing major consequences is auditing! We are all familiar with the broad concept of auditing. It is a methodical procedure for assessing a practice's current billing procedures in the context of medical billing. In a nutshell, medical billing audits check your records for correctness, completeness, and compliance.

Features

Analysis of Aging AR

Keep pursuing unresolved claims and get back what may be retrieved! We at Diversified examine your aged AR to separate bad debts from recoverable amounts. By taking the proper collection actions, our accounts receivable audit assists you in monitoring past-due invoices and efficiently managing cash flow.

Audit of Denials and Rejections

By identifying ten common billing problems, Diversified assists you in lowering claim denials. Our staff assesses your previously rejected claims using a methodical procedure. In order to identify recurring themes and patterns in your denials, we also examine your denial ratio.

Identification of Revenue Leakage

Steer clear of financial hazards! We at Diversified pinpoint the causes of financial decline so you can deal with them. Our revenue leakage audit identifies payment gaps—like under coding or unpaid claims—in your billing procedures.

Verification of Custom KPIs

Determine what must be improved! Depending on your needs, we also provide customized analysis on things like claim acceptance rates, AR turnaround, and revenue cycle efficiency. Our team also examines your unique key performance indicators (KPIs) to evaluate your financial operations.

Benefits

A decrease in billing errors

Claim denials are frequently the result of billing problems, including miscoding, duplicate billing, upcoding, inaccurate patent information, and paperwork. Before submitting a claim, medical billing audits might assist you in identifying these issues. In the end, this increases your financial stability and billing accuracy.

Increased Patient Contentment

Did you know that a healthcare practice's quality is reflected in how satisfied its patients are? By increasing your billing accuracy and transparency, medical billing audits assist you in lowering patient billing misunderstanding and discontent. Faster payments and fewer billing disputes result from this.

Enhanced Revenue

Billing audits increase compliance with healthcare rules and reveal hidden errors, which helps you increase revenue. Additionally, they maximize your cash flow by assisting you in pinpointing areas that require improvement, such as undertrained personnel or inappropriate documentation procedures.

Minimum Claim Denials

In order to determine the reasons behind claim denials, audits are also crucial. Medical billing audits help you identify and fix typical billing problems by examining denied and already-submitted claims. These could include concerns with compliance, missing documentation, and incorrect coding. This lowers your claim denial rates in the long run.

Auditing and Consulting