Discover the Most Efficient Way to Manage RAC Audits
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The RAC Audit Program will increase payment denials and operating costs unless your Health System is well prepared and organized. If you bill Medicare, there are new essential activities that must be managed as a regular business process. These activities include:
- Processing medical records requests in a timely and cost-effective manner
- Processing demand letters
- Appeal decision, preparation, and follow-up
- Financial tracking and reporting, forecasting and cash-flow analysis
- Studying and quantifying results to prevent future losses
During the RAC demonstration period most organizations made attempts to manage RAC Audits by:
- Manual tracking, printing, and mailing of medical records requests
- Use of separate word processor to write, store and print appeals
- A spreadsheet to record cash flow and appeal activity
- Manual identification of RAC payment activity by visual review of daily Medicare remittances
Even though the more proactive organizations were able to successfully overturn more than forty percent of the RAC recoupment’s, the costs associated with doing so were unacceptably high and appeal opportunities were missed.
We invite you to learn more about RACManager. Please feel free to request an on-line demonstration at your convenience.
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