Enhancing Revenue Integrity for healthcare providers
Every year, Healthcare Tech awards 10 companies which provide impactful healthcare workflow solutions to the healthcare industry. Exdion Health is one amongst them this year. Exdion makes the best use of cutting-edge technology and deep domain knowledge to blend its end-to-end spectrum of services, ensuring a smooth transition into digital healthcare. Exdion Health has helped many of its clients drastically reduce revenue losses and provide the best revenue cycle management and coding services.
The Problem
The healthcare system has always faced difficulties in handling patient accounts, and this problem has been compounded with the huge influx of patients due to the pandemic. Optimizing coding workflows has now become critical but thousands of Urgent Care Centers (UCCs) and Acute Care providers are losing capital due to faulty medical coding. Usually, medical coders invest a lot of time and effort in manual coding and this is usually prone to errors. Even the smallest of these errors can lead to claim denials, fines, and loss of revenue leading to a negative consumer experience. While medical coding is beneficial, if it’s not done the right way, it does more harm than good.
The Solution
So is there a way for healthcare providers to stay profitable and carry out medical coding without leaving money on the table? The answer lies in automation. Similar to the way many manual tasks have been automated for increased efficiency, improved output and zero errors, automated medical coding is the best way to manage the intricacies and complications of coding. Exdion Health excels in automated medical billing by using artificial intelligence, machine learning and cloud to help clients in managing revenue realization and staying profitable. Built on advanced AI-powered auto coding, revenue integrity and Clinical Documentation Improvement (CDI) technology, Exdion Health ensures compliance and helps increase revenue. This results in faster turnaround times, boosted efficiency and cost-effectiveness.
How does the Exdion Health work?
- It automatically scans encounters and flags down compliance gaps, if any.
- It processes and manages large volumes of charts within minutes.
- It helps to identify under-billed, over-billed and unbilled services, thus allowing healthcare workers to discover previously unseen revenue opportunities.
Unlike billing scrubbers that just identify billing errors, Exdion Health not only identifies errors but also focuses on the relationship between the International Classification of Diseases (ICD) and the Current Procedural Terminology (CPT) codes. Using powerful management systems with APIs, it easily integrates with the healthcare provider’s Electronic Health Record (EHR). The use of artificial intelligence in the medical billing and coding industry can help healthcare organizations simplify their billing processes while minimizing costly errors.
What are the benefits of using automated medical coding?
In order to improve the profitability of their billing and coding processes, Healthcare organizations now widely use AI-powered technologies due to the many benefits they offer:
- Automating the coding process to provide a scalable solution that is less reliant on the availability of professionals trained in billing.
- Ensuring an improved cash flow by generating accurate patient invoices in a timely manner.
- Reducing the standard work hours for administrative staff, which can help improve the quality of their work in other areas.
- Eliminating costly human errors by not just matching EHR data to the correct medical codes but also by integrating systems, so that manual entry of information into multiple software programs is reduced.
- Conducting Real-time audits to eliminate the problem of discovering an error too late in the process to be able to fix it at a low cost.
- Automating repetitive and recurring child tasks so that professional Coders can focus on solving complex charts that require their skills and experience.
- Reducing the number of customer support inquiries or disputes related to patient statements to bring down the operating costs.
Conclusion
If your Urgent Care Center is struggling with the complexities of coding, Exdion Health can come to your rescue. From eliminating errors, improving efficiency and reducing costs, our solutions will help transform your practice to the best version possible. Get in touch with us.