Charge entry is the first and most important process of entering important inputs and details to enable claims processing in the medical billing cycle. All entered data should be error-free and approved as it is easy to make critical mistakes while assigning medical codes which can cost thousands of dollars in lost revenue.
There is common performance indicators for charge entry which includes days to enter charges, missing charges, and coding accuracy. Let’s look at these indicators in short:
Days to enter charges - This indicator suggests average lapsed days from the date of service to that particular date on which the charge is completed and posted to the account.
Missing charges - This indicator signals about the appointments that do not have charges posted.
Coding accuracy - Percentage of claims that fail the coding editor as claim scrubbers are used by many practices to identify claim errors before the claims are transmitted.
Moreover, Charge entry carries special importance in the process of reimbursements for any service provided by a physician. Let's look at the importance of charge entry.
Charge entry is very sensitive in medical billing and even a minor mistake in charge of entry impacts the entire outcome. In this process, all patient accounts created are assigned with the right monetary value according to the coding. Practices need to keep in line with changes in codes as codes and charges are updated very often.
Claims approval or denial is considered to be the next process after charge entry. Hence, there should not be any mistake made in it. It is also important to have good coordination between the charge entry team and the medical coding team to ensure the entries is error-free.
Crucial Steps Involved in the Charge Entry Process.
It is a key step in the stage of charge processing which includes entering the billing information of patients. This process contains critical data such as patient and provider details, services that have been provided, and date of the patient's visit. However, accuracy is the main concern here.
This process requires the professionals to be well acquainted in internationally followed and recognized medical coding systems and requiring the maximum possible attention and eye for detail.
Correct charge entry enables practices to achieve many things such as proper reimbursement, eliminates claim denials, Reduction in time to identify errors.
Practices should enter correct codes associated with service charges. These codes represent the services offered by physicians to the patients. Correct fulfillment of data such as codes and charges is essential for getting proper reimbursement.
Correct charge entry (CPT, ICD-10, and HCPCS coding expertise to ensure maximum insurance reimbursement from accurately coded claims) eliminates the possibility of claims getting denied or rejected. If errors are overlooked and passed on to the next level claim submission process then reviewers may deny or reject claims based on the severity of mistakes. If the claim is denied, health care providers again need to re-submit corrected claims which involve the spending of more critical time.
Sometimes, it takes even days or weeks to pinpoint errors and identify where something has gone wrong. This certainly will impact the revenue cycle management process. Expertise in the charge entry process will help reduce the time spent on such activities.
Medical Billers and Coders (MBC) providing all Healthcare RCM services to several companies across the US. Our expert team has years of expertise in this field and outsourcing your charge entry tasks to us, you may rest assured that the process is being handled by trained professionals.
