Revenue Leakage occurs when a facility does not bill a patient for services and supplies that were already provided. These “missing charges” can quickly add up and have a major impact on health system revenue. Often times, these missed charges result from worklfow or ordering processes in such a way that the hospital does not even know they are missing them. Research shows that most organizations are failing to capture a significant percentage (1%-3%) of earned revenue for services already rendered to patients due to documentation and coding error gaps. Revenue Leakage can easily equate to hundreds of thousands of dollars or more of lost revenue every month.
Avelead’s Master Build Automation Tool (MBAT) was designed to alleviate these challenges and put you back in charge of your charges. MBAT is comprised of several modules which make the challenge of keeping all this data in sync a breeze.
Avelead’s Revenue Identification (REViD) system is designed to eliminate revenue leakage within your organization. Our REViD solution provides tight integration with your existing patient financial and clinical systems. Its powerful predictive analytics technology evaluates patient account charges before they are billed to generate coding exceptions where possible charges were missed. Local auditors utilize exception-based workflows to quickly and easily resolve coding issues. Implementation of REViD in your health system will lead to increased efficiency, better coding and most importantly, recapture of lost revenues.