BROOKFIELD, Wis., April 19, 2016 /PRNewswire/ -- "Due diligence is much easier to do when you can be sure you're seeing everything," according to Adrian Velasquez, a medical billing veteran of 23 years and CEO of Fi-Med Management, Inc. "Random audits may give you hints, but there's just too much money involved to rely on hints and guesswork," he says, referring to the growing trend for hospitals and hospital groups to buy up physician practices, all over the country.
"We just helped one client save over $1 Million on the purchase of a medical group after they saw - and could prove - that the group was at high risk for insurance company audits and denials. And that was just one purchase. They've been using our tool now for over two years, with invaluable results," he adds.
One might ask, if there's so much risk, why complete the sale then? Velasquez replies, "Because it can be fixed. Using the same tool, we also provide a way to see exactly which providers are at risk for denials and why. At-risk providers can then be easily tracked to see if their behavior changes. That is, are the administration's education efforts making a difference or not? It's like trying to fix a creaky staircase. A single nail might do the job, but the trick is knowing where to put the nail. Our tool, Reveal/md shows you where."
Fi-Med's Reveal/md looks inside the coding habits of a practice or clinic, giving an extremely accurate snapshot of audit risk, using the same kind of statistical analytics used by government and private payor auditors alike.
Hospitals and hospital systems are increasingly buying up physicians and their practices as a way to reduce patient utilization, and therefore healthcare costs. A key step in these purchases involves doing "due diligence," not only for the sake of revenue but also for compliance risk. A buyer must ask themselves, just what are we buying? What's our risk?
The free webinar, entitled "See Your Data Like the Payors Do" shows a way to stop all the guess work and show exactly who and exactly what needs to be reviewed, using Reveal/md. The tool is browser-based, so is easy and fast to install, easy to use and provides flexible, easy to read customizable reports. Attendees will be able to apply for a free analysis using their own data to identify or confirm their top ten providers at risk for payor audits. The free report offers an actionable report to show the true value of the analyses offered by Reveal/md.
Register for free. Multiple broadcasts and a recording are available.
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SOURCE Fi-Med Management, Inc.