Having immediate access to information matters. So why is it that most healthcare business intelligence tools only update client data once a month? Why indeed?
With Claritee's Advanced Healthcare Business Intelligence solution, ClariteeBI, data from multiple sources and systems is updated daily, giving you access to financial and clinical data you need to be responsive and therefore successful in today’s rapidly changing healthcare arena. This is far better than the industry standard of monthly updates.
We also access and organize data from the most complex environments, from multi-specialty and multi-location medical practices to health systems to billing companies and home health agencies. And it’s not just locations. We retrieve data from multiple practice management, accounting systems and electronic medical record applications. And we do it all, every day, so you don’t have to wait for the information you need now.
Really, who has time to wait?
RAC Audits
Are RAC audits threatening your practice?
Has your practice, hospital or agency been overpaid by Medicare in recent years? How accurate is your coding? Do you maintain complete reimbursement records and supporting medical documentation?
If you don't know the answer to these questions, there may be cause for concern. In an effort to collect on improper payments to providers, Congress and the Centers for Medicare and Medicare Services (CMS) have committed unprecedented resources to prevent Medicare fraud and promote the adoption of a nationalized, evidence-based healthcare structure.
The most visible-some would say threatening—tactic being employed by CMS are recovery audits, also known as "RAC audits." CMS has hired independent medical collection agencies, Recovery Audit Contractors (RACs) to lead the effort and are paying them contingency fees of 9-12.5 percent on recovered “over payments."
A RAC audit of your practice, hospital, or agency could results in tens or even hundreds of thousands of dollars in penalties. This could be financially devastating for even the healthiest of providers.
What should you do? Be proactive with the help of ClariteeBI. RACs employ powerful data mining software to identify and recover overpayments from providers. ClariteeBI is equally powerful, enabling you to quickly access all of the payer and clinical data you need by location, physician, procedure—whatever data set you need—to ensure compliance with CMS guidelines. Because ClariteeBI updates your data daily, you can identify emerging issues before they become problematic and spot recurring trends and take the necessary action. Should you be audited, ClariteeBI will help you validate their claims.
Want to minimize your risk in the event of a RAC audit by having better control of your data? Contact Claritee.