Hospitals face unique billing challenges for employed and contracted physicians that extend far beyond simply billing for services. These include complex physician compensation formulas that must account for relative value units (RVUs), geographic practice cost indices (GPCIs), conversion factors (CVs), place of service concerns, as well as diverse charge capture challenges.
MediNomics’ Hospital Billing Services handle these complex challenges on behalf of its clients, enabling hospitals to focus their attention on care delivery and operational issues. Certified medical coders review all coding on every claim, which are then edited and scrubbed by MediNomics’ billing system to check for errors. This not only reduces denials, but helps hospitals earn maximum reimbursement for all the care they deliver, such as knowing when to compliantly add modifiers. But beyond coding and billing, the services offered by MediNomics extend much further to include:
Analyzing RVUs ― Hospitals looking to monitor the productivity of their employed physicians can leverage the expertise of MediNomics to analyze and report RVUs. The analysis can determine productivity by physician, if physicians are failing to turn in charges, and can even help hospitals review physician compensation as it relates to RVUs.
Compliance ― Certified medical coders identify trends in physician documentation and coding to spot over coding and under coding, and verify that claims are in compliance with state, federal and payer regulations.
Blended Rate Billing ― MediNomics Hospital Billing Service rates can be applied at a per provider, or specialty grouping. Additionally, we can blend a single rate to be applied against all departments.
In-Depth Reporting ― Numerous reports are available to keep hospital executives apprised of their financial situation. These include summary reports of charges, payments and adjustments, as well as days to bill, AR aging and reports by provider, department or payer. Our reporting packages consider the providers, practice managers, hospital administration, and finance offices. Business intelligence reporting is available for both clinical and financial data and includes dashboard reporting for busy hospital executives.
Process Optimization ― MediNomics offers its integrated EMR/PM solutions to the departments and provides consulting and training services to help hospitals evaluate and improve their front-office business processes through leveraging tools provides, such as the scanning of patient documents, electronic signature capture, Web-based eligibility, automated patient call reminders, and more. Such training can help hospitals implement best practices among their staff.
EMR Transition ― Hospitals looking to further optimize their clinical documentation and billing processes can leverage MediNomics’ expertise to select and implement electronic medical record (EMR) solutions that are designed to provide an interoperable electronic health record across the hospital's provider community.