Don't Miss Millions in Potential Revenue
Helping healthcare organizations maximize their revenue potential is our specialty. Our Revenue Value Assessment service uses our smart technology to quickly identify care gaps and areas of specificity to proactively address - improving patient outcomes and increasing revenues.
By Closing Care Gaps
After one year of working with Fi-Med's Revenue Value Assessment services and smart technology, one client experienced an increase of $24 million in revenue over the previous year.
ARE ONBOARD
The same client's providers were resistant at first, but after one year of benchmarking progress and receiving good communication from the auditor monitoring care gaps, they are onboard.
In Auditor's Work
The same client's auditor experienced an 800% efficiency improvement using Fi-Med's smart technology, revealMD, to identify care gaps versus manually pulling charts by combing through EPIC.
Don’t suffer from lost revenue, get the revenues you earned!
Pulling charts to look for revenue is time-consuming and is just not practical. In addition, overworked coding staff cannot find potential income with this traditional approach, and EHRs do not tell the whole story.
The Revenue Value Assessment (RVA) program identifies revenues lost and where to go to address the revenue problem. RVA analyzes revenues that the organization isn't actualizing because of coding. Fi-Med's proprietary Smart Technology, revealMD, developed with major healthcare systems over the past ten years, is the tool used to identify missed opportunities.
Whether you are a Fee for Service or Value-Based Care organization, you have a comprehensive analysis of your revenue situation from which you can correct. There is no software to install, EHR interfacing, or training required. Instead, Fi-Med delivers a thorough analysis of your revenue situation that lets you know where to act.
How does Revenue Value Assessment work?
Fee for Service Revenue Analysis
Our revenue analysis shows how the provider or organization is losing through coding. We map the provider outliers against either the CMS comparable peer data or Fi-Med's national client database of U.S. hospitals.
Our assessment process looks at the data and answers the following questions:
- What is the overall revenue loss due to coding?
- Which departments have the most significant revenue loss?
- Which providers have the most revenue loss?
- What codes are key to our revenue opportunity?
- What E/M and Procedural codes show the highest revenue opportunity?
Medicare Advantage /
Value-Based Care Analysis
What revenue opportunities exist for patients in Medicare Advantage and Value-based care programs? Our analysis looks at:
A. HCC Coding
What providers use codes that do not support Risk Adjustment Factor (RAF) Scores, resulting in the organization not being reimbursed?
B. Gaps in Care
What are the gaps in care for patients potentially losing millions of dollars?
C. Patient Not Yet Seen
Which patients have not yet seen a provider, and the organization needs to get them in to meet a provider?
Deliverables
Our Revenue Value Assessment deliverables are dependent on if you follow a Fee for Service or Value-Based Care model. Only applicable deliverables will be generated during the overall assessment.
Assessment of 100% of Your Providers
Each provider is assessed on their coding practices.
Assessment of all codes submitted/billed for All Payers
Billing trends are reviewed to highlight gaps.
Analysis of Codes used by Providers
This analysis identifies over coding, under coding, and Gaps in Care.
Prioritized areas of care to focus ON for quicker revenue increases
Gaps in Care are prioritized by providers and specialties with the highest potential revenue.
Potential reimbursement issues
Codes with no RAF score are identified.
Solutions to reimbursement issues
Recommended RAF score codes provided if provider documentation supports them.
Discussion with experts
Conversations with Fi-Med consultants or Certified Coding experts are included.
Comprehensive Review Analysis
Includes all deliverables, recommendations, and a proposal for an ongoing revenue value retainer.
Revenue Value Assessment Benefits
RVA has other benefits besides providing detailed analysis from which you can take action to increase revenues, including:
Overall staff efficiency is dramatically enhanced
Staff no longer spend hours or days searching patient charts to find providers with revenue loss. Instead, they work with your providers to enhance their revenue effectiveness. Staff shortages are addressed.
enhance provider training and knowledge
Providers are less app to question your staff about their coding practices because they clearly see where their revenue issues are in their coding and how they stack up to their peers.
Better Patient Outcomes
Patients with care gaps or patients not yet seen benefit from being scheduled for necessary care.