New revenue integrity tool assists medical practices in reducing compliance risks and optimizing net revenue
Veritex Healthcare Solutions recently announced its national launch of RIO (Revenue Integrity Operations), a complete revenue integrity tool for physician and physician extenders services.
Today more than ever healthcare providers face unprecedented focus by regulators. The combination of the Affordable Care Act requirements, new HIPAA mandates and pressure to reduce healthcare costs make the effort of complying with rules a nearly impossible task.
“Physician practices are especially vulnerable to this level of scrutiny. They do not have the resources to implement and maintain steps necessary to implement an effective compliance program,” says Jim Dowdell, CEO of Veritex. “We developed RIO as an efficient, effective and economical tool to focus on their highest risk area, coding and billing.”
RIO utilizes a combination of proprietary software tools and hands-on expert reviews to ensure physicians are minimizing their risks and maximizing their revenue potential.
As Dowdell points out, “Today the hype is over-billing. While I do believe documentation could be enhanced, from a practical standpoint we see as much under-billing as we see over-billing therefore the key is getting it right.”
About Veritex Healthcare Solutions, Inc.: With offices in Charlotte, NC, Pittsburgh, PA and Roanoke, VA, Veritex Healthcare Solutions serves healthcare providers throughout the U.S. with regulatory appropriateness related services. Services include: risk assessments; revenue integrity reviews and maximization; ongoing compliance reviews and education; VCom, a complete virtual outsourced compliance department; and RIO, a state-of-the-art Revenue Integrity Operation for Physicians. For more information, visit www.veritexhc.com/rio.
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