What is Charge Capture?
Charge capture is the process healthcare providers use to get paid for their services. A provider records all services rendered during a patient interaction. The provider or their staff then assign a standardized code, called a Current Procedural Terminology (CPT) code, to each service rendered. These codes are associated with specific charges which will be billed to the patient or their insurer.
Charge Capture Process Flow
While every provider has their own workflow for charge capture, it all starts with detailed notes taken when meeting with the patient. The consultation, any tests administered, and any diagnoses reached will each result in individual CPT codes for eventual reimbursement. This delay between performing a service and receiving reimbursement is known as charge lag.
Because of the specificity of the codes, it’s important for these notes to capture as much detail as possible. Healthcare providers can simplify the notetaking process by using charge capture software that allows them to record notes directly into a mobile app for easy processing later.
Entering notes within an app makes it easy to search for CPT codes, removing paperwork from the equation and even making it possible for providers to enter these codes on the fly.
After the physician’s notes have been translated into CPT codes, they’re ready to be processed by billing and submitted for reimbursement. As you can imagine, capturing CPT codes accurately is the key to maximizing earned revenue as a physician.
5 Charge Capture Healthcare Myths
In many offices, charge capture is still an analog process. Doctors take notes by hand, and even the billing process are largely based on physical paperwork. Because digital transformation is rapidly changing the charge capture process, there’s currently a lot of confusion between what’s fact and what’s fiction when it comes to charge capture. With that in mind, here are five common charge capture myths to dispel:
- Paper-based charge capture processes still work
- Charge lag is just part of doing business
- EHR and PM systems make charge capture more difficult
- Charge capture software is an unnecessary expense
- Digital data puts patient privacy at risk.
Do these myths sound familiar? At first glance, you may even think them (or at least some of them) to be true.
In our recent guide, we walk through each of these charge capture myths and explain in detail why each of these myths rings false in the face of data. For instance, the US hospital system loses $68B annually to billing mistakes—many of which come as the result of outdated, paper-based processes.
Along with clearing up these misconceptions, this guide also provides tips for maximizing your charge capture revenue, shortening your billing cycle, and running a more efficient practice in general.
Download the Updox Charge Capture powered by MDTech Guide Today!
Choosing the Right Charge Capture Solution
Understanding the truth behind charge capture is one thing, but finding the right charge capture solution for your practice is another matter entirely. If you’re looking for a way to streamline your charge capture process and to get paid faster (while missing fewer charges), there’s no solution quite like Updox Charge Capture powered by MDTech.
“This is clearly the leading product of its type, and I highly recommend it.” –Bruce Frankel, M.D. – Assistant Prof. of Neurosurgery Dept. of Neurosurgery University of Tennessee, Memphis/Semmes-Murphey Clinic
Updox Charge Capture powered by MDTech simplifies charge capture by giving physicians and their staff all the tools they need to efficiently capture CPT codes and submit them for reimbursement. And charge capture is just one of the many benefits the Updox Communication Platform provides to practices, along with HIPAA-compliant communications, versatile electronic forms, and more.
See What Updox Charge Capture by MDTech Can Do For Your Practice
