MedAptus, Recognized Leader in Healthcare Technology, Offers Advice on Effectively Collecting Payments While Complying with RAC Standards
BOSTON, Sept. 29, 2008 — MedAptus(R), market leader for charge capture technologies, today announced that its senior vice president, William D. Marshall, is available to speak on the role of charge capture and coding automation relative to the Recovery Audit Contractor (RAC) Program.
RAC was developed to identify improper Medicare overpayments and underpayments that were not found through existing detection technologies and systems. In 2007 alone, Medicare made improper payments topping $10 billion, according to a study by the Office of Management and Budget.
The RAC Program utilizes contractors to identify payment issues; contractors are paid a contingency fee for each claim denied, effectively stopping an overpayment. This approach raises serious concerns for providers, as there is a strong incentive for RAC contractors to be aggressive in chasing down overpayments, while falling short on uncovering monies owed to providers. Ninety-six percent of improper payments reported by RAC contractors have been for overpayments. In fact, since the Program's inception in 2005, more than $1 billion has been recovered.
Seventy-five percent of errors that led to overpayments were from services incorrectly coded or deemed medically unnecessary. In order for hospitals and health networks to stay compliant with the RAC Program and ensure they are not being underpaid, they need to implement stringent measures and technologies for coding compliance. But what options are available for healthcare providers? What will the impact of RAC mean for how hospitals accurately capture and bill for services? Mr. Marshall is available to address these questions as well as the following topics:
- Why EMRs alone will not solve the RAC issue for hospitals
- The role of charge capture and dictation in RAC compliance
- How providers can avoid underpayments
For more information on MedAptus, please visit http://www.medaptus.com. Anyone interested in speaking with Mr. Marshall can contact Lisa Astor or Kristen Berry at 978-474-1900 or Email.
About MedAptus Corporation
MedAptus' vision is to become the Gold Standard in the healthcare revenue cycle for effective charge management, compliance and workflow efficiency. With the most powerful, yet easy-to-use, Intelligent Charge Capture technologies available, we enjoy enterprise-wide adoption at some of the nation's most prestigious healthcare organizations. Our portfolio of full-scale Professional and Facility offerings is practice-proven to increase revenue, re-engineer archaic processes, enhance EMR investments and save busy providers valuable time. For more information, visit http://www.medaptus.com or call 617.896.4000.
Media contact:
Lisa Astor or Kristen Berry
PAN Communications
Ph.: 978-474-1900
Email
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