Whether an owner or leader in your anesthesia practice, it is important to understand how your practice performs in comparison to others across the nation. Today, anesthesia groups are faced with a myriad of challenges – everything from reimbursement pressures, declines in case volume, staff retention, increased regulation and maybe even floating merger and acquisition discussions.
As a result of current and future obstacles facing you it is imperative that you take a long, hard look at your practice and understand what can be done to improve performance and profitability. abeo leverages our data, and expertise from working millions of transactions annually to conduct an objective billing and coding audit and deliver an anesthesia practice assessment to your group. Comparing your practice to similar practices nationwide is essential to making informed business decisions.
What the Process Entails
abeo’s Anesthesia Practice Assessments are confidential. Our process entails;
- analysis of your current EHR/documentation process,
- review of current coding procedures and accounts to verify case coding accuracy,
- verification of cases for correct payment by insurance carriers,
- timeliness of entries, payments to calculate average revolving date
- audit of current patient and payor follow-up processes, and
- compliance tracking for issues and resolutions.
What Information is Required
abeo always initiates and signs a non-disclosure agreement. We provide a detailed list of information needed regarding your business operations and performance that is necessary to deliver a comprehensive assessment. We are happy to explain why each piece of information is necessary. We respect the fact you may not always be able to provide what we ask and will educate you on what may be absent or potentially skewed in the event of missing information.
What Will an Anesthesia Practice Assessment Reveal
Whether an assessment reveals minor areas for improvement or significant loss in revenue, it’s an essential step for any practice looking to determine their next move. A typical abeo anesthesia practice assessment will include the following elements;
- overview of your current situation including general observations and findings,
- audit of coding, billing, collections, claims follow-up, and payment processing,
- detailed findings report that includes error rates, revenue impact, cost structure detail, and compliance issues
- comparisons on best practices, industry benchmarks and identified areas for improvement.