“Changing healthcare industry standards and hospital staff shortages are leading to incorrect coding which is required for accurate government reimbursement for services,” the company said in a news release.
Fi-Med said the company aims to combat incorrect coding through its REVEAL/md subscription service, which examines healthcare organization billing data and reveals providers that are a compliance risk.
The company added the service keeps tabs on various coding behaviors, such audit risk, evaluation/management revenues and over/undercharges.
“Neither overpayments nor underpayments are optimal,” said Adrian Velasquez, CEO and founder of Fi-Med and creator of REVEAL/md. “The key is targeted analytics that can turn non-protected health information data into an instant, comprehensive report that mitigates risk for compliance violations and lost revenue to hospital systems.”
Read more here.
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