Running a medical practice comes with seemingly endless responsibilities. You not only provide care services to keep your patients healthy, but you also acquire payments with a well-rounded charge capture process. Charge capture is essential for preventing revenue gaps.
PracticeForces helps medical practitioners adhere to HIPAA in medical billing and integrate billing solutions to ensure timely payment. We’ll help master medical billing capture with the guide below.
What Does Charge Capture Mean?
A successful practice leverages detailed service and payment documentation to secure revenue cycle optimization. Charge captures are essential to optimizing your practice’s record-keeping. When a doctor provides medical services to a patient, they use charge captures to document those services.
Charge capture languages vary depending on the service. You might recognize the variants listed below:
- Charge capture specialist
- Medical charge capture
- Charge capture audit
- Hospital charge capture
Streamlining your medical billing capture techniques saves practice resources and makes documentation and billing more efficient.
How the Charge Capture Process Works
The charge capture process involves eight stages:
- Service provision: You serve a patient by providing a prescription, medical advice, or a test.
- Service documentation: After providing the service, you record the details, including the date, service type, and patient information.
- Medical code assignment: You match the services to coinciding medical codes.
- Charge entry: You input the medical codes into your practice’s billing system and connect them to the patient’s account.
- Review and approve: The patient or their insurance provider will review the codes for accuracy.
- Claims submissions: If the payer approves the charges, they’ll submit the claims with an in-depth document about the approved services.
- Claim denials and inconsistencies: If the payer doesn’t approve the charges, they submit denials highlighting inconsistencies.
- Final payment: Finally, the payer relinquishes payment after approving the claim.
Charge Capture Weaknesses
While the process seems straightforward, it has some pitfalls. For example, a manual entry can contain numerous errors, prompting claim denials. The language used for electronic health care claims could change with shifts in regulations and provided services.
Plus, capabilities vary by practice. Your practice’s charge capture efficiency depends on variables including:
- The resources you access
- Your team’s proficiency
- Your technological solutions’ flexibility
How To Strengthen Your Weaknesses
While adopting EHR or EMR for efficient charge capture is a significant improvement, it isn’t always enough. You can better equip your practice for faster, more accurate charge captures with the following claim-coding best practices:
- Integrating AI-powered charge capture solutions into your system
- Continuously educating your team members
- Cross-checking claims for errors before submitting them
- Auditing even the most advanced billing systems to ensure compliance and integrate regulatory updates
- Strategizing each quarter with revenue goals and productivity metrics to improve your team’s overall output
As the supervisor of a busy medical practice, you already have a full schedule. Passing your medical billing duties to a third party specializing in these services can secure your success.
Master the Charge Capture Process With PracticeForces
Make the charge capture process a breeze with PracticeForces’ qualified medical billing solutions. What can an outsourced medical billing company do for you? Contact us to request an informative consultation with our skilled team.