Practice Audit helps you ensure billing compliance

Vitgenix, Inc. levels up your business revenue & refines your billing process with a deep-digging audit service.

What is Billing Audit?

Medical Billing audit is a complicated procedure. Many data sources will need to be managed, including health records, financial records, accounting documents, and policy-related documents. As a result, it is critical to collect and organize all of the information in a single system.

Audit of a Medical Bill is a process that evaluates medical documentation. Examine billing papers presented to taxpayers to ensure their correctness, trustworthiness, and validity. Auditing activity provides finding, monitoring, and correction of improper billing practices.

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Find Out How to Get a Detailed Practice Audit for Healthcare Facilities

Our Staff assists you in reducing billing compliance difficulties

Compliance officers, financial leads, case managers, IT and medical advisors, make up our skilled medical practice audit team. Additionally, practice audits reinforce and improve coding and billing procedures, guarantee outstanding amounts be paid, and show that all required measures are taken to prevent future errors.

Moreover, Vitgenix, Inc. ensure that effective revenue cycle management (RCM) systems are configured to boost revenue.

Partnering with Vitgenix, Inc. you will get round-the-clock medical billing services will streamline medical billing audits for all of your departments. Due to our safe handling of patient data, there is no difficulty when it comes to paperwork or other audit-related responsibilities.

How Practice Audit is Significant?

Overall, audits of medical billing are important because they support high-quality patient care, encourage compliance, maximize income, find and stop fraud, enhance procedures, reduce risks, and promote compliance. They are a crucial part of revenue cycle management and they support the overall financial stability and operational integrity of healthcare practices.

Medical Audit Procedure

Medical practices are seen to function great financially and operationally when medical billing audits are conducted. The procedure is very straightforward, but it is also intricate because of a number of elements that help medical practices have a smooth revenue cycle.

As it evaluates the practice's strengths and faults in order to enhance performance, an internal medical practice audit plays a significant role in the financial stability of medical practices. Medical practices may identify a reputable billing business that can conduct an audit, assist you in enhancing your revenue collections, and reduce your account receivables. Simply search “medical practice audit companies near me."

Vitgenix, Inc Audit Services Keep Your Practice in Safe Hands!

Medical practices, indeed! With Vitgenix, Inc. your RCM billing audit is in safe hands, we are a professional and HIPAA-compliant billing company that secures Protected Health Information (PHI). For this reason, it is always a wise decision to outsource your billing audit to our medical billing auditors, who will provide you with a keen viewpoint on your medical practice. By hiring our audit services, you may expand your practice without being worried that revenue outflow would lessen your revenue collection rates.

Practice Audit with HIPAA Compliance

Vitgenix, Inc. conducts a practice audit with a focus on HIPAA compliance, the following steps can be followed:

To-Do List of Our Practice Audit

A billing and audit organization needs an audit checklist to successfully complete the procedure. It supports a better revenue cycle by identifying all potential revenue escapes. To assure the correctness and integrity of billing procedures, as well as to stop revenue loss and financial hardship, medical billing audits are crucial.

First, look for and confirm any valid patient IDs.
Make sure that the patient's demographic data is correct and comprehensive.
Validate the services are precisely coded and billed.
Examine the Correctness of all Insurance Data and Payment Processing.
Confirm Claims are submitted within Timely Filing Limits.

Avoid double billing and use modifiers properly.
Verify the Proper Documentation Backs Up the Charged Services
Ensure Accurate Implementation of all Applicable Adjustments or Discounts.
Determine whether local, state, and federal regulations are being followed ethically and legally in order to prevent any sort of legal action.

Types of Practice Audits

Regardless of the size of your company, medical billing audits and claims are available. You can make sure that your medical billing system is effective and has enough cash flow by conducting routine audits. The following are a few examples of the reviews that are conducted in the medical industry:

Sampling Practice Audit

Utilize insurance funds that cover both minor and major claims when choosing claims for medical billing audits. Although a random audit doesn't guarantee you'll get money back from your insurance provider, it could facilitate a more thorough audit evaluation.

Full Audit

The examination is thorough and looks at claims that have already undergone manually or electronically auditing. In addition, it enables you to submit claims to the claim’s administrator, which is auditing's primary objective.

Hybrid Practice Audit

To accomplish objectives like chargebacks and compliance, hybrid medical billing audits combine random sampling audits with thorough audit evaluations. Additionally, it emphasizes speedy overpayment recovery.