Maximizing Value Through Outsourcing Medical Chart Auditing Services

Introduction

In recent years, hospitals, physicians’ practices, FQHC’s, Community Health Centers’ and other healthcare providers have implemented various strategies to improve revenues and ensure their continued viability. These efforts are not only essential for sustaining operations but also for navigating the significant challenges posed by industry competition. Despite a projected 20% growth in Revenue Cycle Management, the healthcare sector has traditionally lags behind other industries in outsourcing non-core activities. However, the trend is shifting as more providers recognize the advantages of outsourcing revenue cycle activities to experienced professional services teams. While managing services internally has its merits, outsourcing non-medical services presents unique benefits that make it a viable strategy for healthcare organizations.

Benefits of Outsourcing Medical Chart Auditing and Coding

Cost Savings

Outsourcing medical chart auditing and coding services enables healthcare providers and healthcare practices to significantly reduce expenses related to managing, recruiting, training, and scheduling internal coding departments. By alleviating the human resource burden, organizations can realize substantial savings that directly impact their bottom line.

Access to Specialists

Maintaining in-house medical chart auditing and coding requires hiring experienced nurse auditors and certified coding specialists—a process that is both time-consuming and costly. Outsourcing allows healthcare providers to access the expertise of skilled professionals without incurring the expenses associated with full-time employees.

Enhanced Focus on Patient Care

By delegating nurse auditing and coding services to professional third-party providers, medical practices can concentrate on improving patient care and satisfaction. Outsourcing these services boosts the productivity of in-house staff and contributes to increased revenue.

Strategic Advantages of Outsourcing

Delivering high-quality care remains the top priority for hospitals, physicians’ practices, FQHCs and Community Health Centers. However, effective revenue cycle management is closely tied to the overall success of healthcare organizations. Facilities that outsource due to shortages of qualified nurse auditors and certified medical coders often find they gain greater control over their revenue cycle, along with increased revenue collection.

Outsourcing is a practical solution for a variety of organizations—including large hospital groups, standalone hospitals, physician groups of all sizes, Federally Qualified Health Centers (FQHCs), and other healthcare entities. By reducing backlogs and lowering costs, outsourcing helps these organizations operate more efficiently and effectively.