Master your Charge Capture Process

It’s no secret that AdvancedMD’s powerful medical billing software can help improve your average first-pass claims rejection rate to less than five percent.    But how can you be sure that your practice is taking full advantage of the software?  Learning to effectively use the highly advanced tools and features will improve your charge capture process and ensure your practice collects more revenue, faster.

Five Powerful Ways to Master the Charge Capture Process

Tip #1:  Charge Slips

Be sure to create customized charge slips that best meet the needs of your practice.  Be sure to include the procedure and diagnosis codes commonly used by your office.

Using this function online can also ensure you don’t miss charges, increase your efficiency, decrease errors, and reduce time in charge posting.

Additional Tips:

  • Tie a custom charge slip to the corresponding patient encounter type in the Appointment Types master file.
  • Online Charge Slips users:  To increase efficiency, minimize (collapse) categories used less frequently by checking the box next to a category in the Charge Slip Templates master file.
  • Update your custom charge slips yearly, removing unused codes and adding more frequently used codes.
  • Take advantage of charge slip customization options available in System Defaults (Appointments category).

Tip #2:  Choosing the Right Charge Capture Method

To help accommodate differing office workflows AdvancedMD offers multiple methods for entering charges.  How do you know which is best for your practice?    The most effective way to choose the best option for your office is to learn the ins and outs of each method.

(Note:  If you use our EHR, you will post charges directly within EHR).

Online Charge Slips:

Using Online Charge Slips will remove the hassle of tracking paper charge slips throughout the day.  This method allows providers to quickly post patient encounters by pointing and clicking.  Another advantage of Online Charge Slips is that it is real-time electronic submission of charges.

Quick Charge Entry:

Using Quick Charge Entry is often used by billers as they can change/update charge entry fields such as episodes, referrals, and so on.  This method also provides you with a convenient list of patients with appointments for the day you have selected that need charges posted on.

Transaction Entry – Charge Entry:

This is the most comprehensive charge entry method, making it another favorite for billers as they can change/update charge entry fields such as episodes, referrals, and so on.  Keep in mind that you won’t have the handy link to patient appointments, so you will have to select each patient first.

Tip #3: Audit & Correct Your Charges & Coding Errors Prior to Claims Submission

AdvancedMD offers auditing and coding features to ensure that errors are resolved prior to claims submission.  Auditing and correcting charges using Charge Review and the Claim Inspector (found within the Claims Center) are an important step to avoid costly claim corrections.

Charge Review:

Take advantage of Charge Review, a powerful auditing tool, to ensure your claims are sent out correctly the first time.  Use Role Setup to manage who needs to have their charges approved (leave ‘Review Not Required’ privilege unchecked), and who can approve these charges (Check the ‘Review Charges’ privilege).  For example, you can set up the system so that a certified coder or senior staff member can approve charges for all staff members, or at least for newer staff who are still learning the billing process.  Be sure to work your claims in Charge Review daily to avoid claim submission delays.

Claim Inspector:

The Claim Inspector is a powerful coding tool that automatically checks your claims for errors based on the most current coding edits for major carriers.  Fixing these potential rejections before the claims go out helps to increase your revenue.  To avoid costly claim delays, be sure to correct or bypass these errors on a daily basis.

Tip #4:  Track Down Missing Charges

AdvancedMD has several tools to help you capture charges for every service you render.

Missed Visits Report:

Run this report frequently to track patients with recently scheduled visits that have not had any transactions posted to them.

Appointment Status List Report:

We recommend comparing this report to the Missed Visits report to ensure accuracy.  Use the Appointment Status List report as a training tool with your schedulers to show the importance of updating appointment status correctly, as mistakes can lead to lost revenue.

Tip #5:  Improve Your Charge Lag

Another important money-saving step is to track the charge lag.  Use AdvancedMD’s reporting to help you identify and avoid common pitfalls during the charge capture process.

Elapsed Time:  Date of Service to Billed Report:

This report shows the intervals between the date of service, charge entry, and billed dates.  You can easily identify what steps are taking too long as the report will specifically identify the following days elapsed between the:

  • Date of service until the charges are received by the billers
  • Date the charges were received until the time they are posted
  • Date the charges were posted until the time they are billed out

You can use this data to first identify any delays to help you reduce or eliminate them.  Run this report regularly to ensure your charge lag continues to improve.  You can also see this information at a glance from the Dashboard.  Refer to the Claims Efficiency tab in the Performance Indicators section.

Note:  Please run the Elapsed Time:  Held in Claims Inspector and Elapsed Time:  Held in Unbilled reports to help further analyze how long claims are being delayed within the Claims Center.

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