Revenue Loss Recovery
Find and recover all the missing dollars falling through the cracks.
Overview
Operational errors inevitably occur in medical practices with high volumes of patients. Manual processes, inconsistent training, and staff changes all contribute to errors. Operational errors cost you money and increase liability. Daily EMR audits (continuous auditing) with reports sent to all responsible parties are the best way to reduce losses and AR age and improve patient satisfaction.
Analog Informatics provides an AI-based service to perform continuous EMR Auditing that generates anomaly reports on appointment workflows from patient logistics. Although there is research in clinical auditing, Analog Informatics focuses on continuous patient logistical auditing.
Errors we detect include:
- Un-billed visits
- Missed no-shows
- Uncharted visits
- Incomplete appointments
- and many other issues that impact your revenue.
Systematically fixing hard-to-find operational errors can differentiate between a profitable practice and one that loses money.
Analog Informatics analyzes and reports on EMR practice data. We automatically find missed revenue daily and improve the quality of your patient engagements using AI technology.
Recoverable Loss Reports
Our automated system provides healthcare practices with powerful tools to optimize revenue. By implementing our software, organizations can detect and address appointment anomalies and appointment billing errors that are often unnoticed.
Our system’s daily reporting feature allows for quick identification of errors, preventing annual revenue loss due to missed follow-ups and billing discrepancies. With an observed low error rate and the ability to recapture previously lost revenue, our solution offers a data-driven approach to enhancing financial performance in healthcare settings.
Client #2 – 6 Month Recoverable Loss for 22 Location Clinic
Client #1 – 6 Month Recoverable Loss for 1 Location Clinic
Continuous EMR Auditing for Daily Corrections
The Anomaly Reports system scans your EMR records to identify billing and operational errors and generates reports. You and your staff will receive daily, weekly, and monthly reports based on your office schedule.
Each report has per-incident actionable information to allow efficient correction of errors.
To confirm that your staff has completed the required no-show follow-ups and billing corrections, weekly and monthly reports allow you to recheck whether previously flagged errors have been corrected.
Summary: AI is the Only Practical Way to Audit EMR Data
Incorrectly Entered Appointments are very hard to find in the EMR. Billing services can ONLY bill for Encounters that have been entered. Improperly completed appointments, such as failing to note cancellations and no-shows, cause missed opportunities to recapture no-show patients.
Key Takeaways
- The staff makes errors in EMR entries that go unnoticed (hard to find)
- Undocumented Encounters = lost revenue (no records, no bill, no income)
- Missed documentation on Encounters leads to poor charting and liability
- Easy to miss no-show appointments => failure to engage for new appointments
- Daily corrections to operational errors = difference between profitability and loss
