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.



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