The Top 3 Compliance and Auditing Mistakes and How to Avoid Them
In today’s environment of increasing regulatory oversight and ever-changing reimbursement policies, compliance must be more than a checkbox. Though an annual compliance and audit plan is not legally mandated, there are few healthcare organizations that don’t have compliance on their radars. However, if your compliance focus is simply to check a box, you’re missing out.
Compliance and auditing offer an opportunity for continuous improvement. Done right, they help organizations better serve patients, mitigate risk and exposure and improve reimbursement and revenue. But what constitutes doing it right?
In this article, we cover three common pitfalls to avoid when creating and implementing an auditing plan.
Moving Past the Checkbox
The benefits of a strong auditing and compliance program are many. Among our clients, we’ve seen results that include:
- Optimized reimbursement
- Reduced delays in coding and billing
- Positively impacted case mix index
- Improvements for key processes
- Identified reasons for denials and risk areas
- Medical necessity of services linked to coding accuracy
- Queries meeting compliance guidelines
- Greater query concision and clarity
- 95% or greater coding accuracy for individual coders
The modern healthcare environment and its goals for compliance are simply too complex for a random, haphazard approach to auditing to work. To move past the checkbox mentality and reap the benefits of continuous improvement, organizations must make their audits count. Only then will they be able to make sure they’re moving forward and not just spinning their wheels.
Click here to find out how Panacea’s innovative auditing technology can work for your organization.