Fi-Med: Identify 'behavioral' coding issues to reduce improper billing

Brookfield, Wis.-based Fi-Med, a provider of revenue cycle management, subscription analytics and chronic care management services, is arguing technology to identify "behavioral" coding issues can help hospital networks save money by preventing incorrect billing.

"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.

 

 

More articles on healthcare finance:
5 health organizations receive grants from UnitedHealthcare to improve access to rural healthcare
How a critical access hospital bounced back from the brink of bankruptcy: 5 questions with Carthage Area Hospital CFO Rob Bloom
10 recent hospital, health system outlook and credit rating actions

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months