As a consultant in physician network management, I regularly recommend that healthcare systems contract with an external expert to perform quarterly audits on coding and revenue cycle metrics for their providers.
Because if you’re not monitoring metrics, you’re leaving money on the table. And not just a few hundred dollars.
One example of a revealing metric is the adjusted fee-for-service collection percentage. When we find that a client has not been monitoring this metric, we perform the calculation and often discover that they are leaving hundreds of thousands of dollars on the table.