Because of the recent focus by RACs on one-day stays, we have been doing internal audits recently at several client facilities, concerning those kind of claims. VERY often, we are finding this kind of error rate:
Greater than 50% errors.
The facilities wind up just writing off those claims. Period.
What does that cost a facility? We were at a facility where their rate was over 60% errors, in a single 60-day period. That added up to over $30,000.
That’s at least equal to one FTE. Lost, due to poor documentation and/or coding.
We’re doing some calculations for a client facility to be able to show to their MDs. Maybe you’d like to know how many FTEs your facility is losing, simply because of a lack of education about optimal documentation & coding practices.
Keep checking back, we’ll share some of the calculations with you.
recovery audit contractorTags: medical billing, medical coding, medical coding education, medical records, rac, racs, recovery audit contractor, recovery audit contractors