A recovery audit is a very sensitive practice, particularly for hospitals. It can expose practices that may have caused financial hardships on a facility. Nevertheless, there are ways to ensure that recovery audit contractors are well-equipped when the task begins.
Gloryanne Bryant of RACMonitor.com says it is important to "think like a contractor," and in doing so, properly lay out risk areas that should receive priority attention. That will allow the biggest problems get addressed and solved first.
What may be a painstaking effort is nevertheless a necessity – tracking all unfulfilled payments. Bryant notes underpayments as an important gap, and one that can affect many areas of patient management and "discharge dispositions."
Another useful solution is to have recovery audit tracking tools monitor all audits. Ensuring such redundancy will protect other management areas from falling into a sensitive position.
"Be sure to have continuing audits, plus corrective action plans with timelines and education in place, as these are just a few key steps to diminishing incorrect documentation, coding and billing (which equates to overall risk)," Bryant writes.
The impact and scope of recovery audits varies with each institution, but adhering to these tips can protect against further shortcomings or missed information.