Getting an audit can be stressful and challenging for any type of business. At the same time, periodic audits are necessary to understanding, both quantitatively and qualitatively, your strengths and opportunities. It usually helps to understand what you’re getting into before an audit begins, and to that end, we wanted to provide you with some basic information about Regent RCM’s free Business Office Audits.
Our audits focus on four key areas: observations (workflow and process), reimbursement, coding, and staffing.
A full Business Office Audit typically takes about 2 weeks and includes an onsite visit. It is comprised of four steps:
- Initial Data Request. Regent believes that the key to understanding a business is access to information. We will start by requesting YTD case count, payer mix, AR trends, charge lag report, income statement/balance sheet, and more. See below for a full list.
- Initial Analysis. After we’ve collected all the information we need, we will review the data and select 20-25 cases for a more detailed review. At this point, we will request that you provide us with EOB’s and contractual rates.
- Full Analysis. We will then conduct a comprehensive analysis of the selected cases using our internal Audit tool set.
- Once the audit is completed, we will present our findings and provide you with detailed recommendations.
This is the second article in the series on Business Office Audits. To read the first article on the benefits of auditing, click here. To request a free Business Office Audit, please call (312) 882-7228.