The ParaRev Revenue Integrity Program (PRIP) will allow your hospital to dedicate staff and resources to areas which will provide a greater return. The ParaRev Revenue Integrity Program deliverables include:
Claim audit to review charge capture coding and compliance, Market-Based Pricing with a relationship to fee schedules or cost, Charge Master line-item review and maintenance, Compliance audit to review HIM/Business Office assigned codes and modifiers, Revenue Management Committee to provide oversight, governance and guidance.
Due to the current reduction in reimbursement and utilization, hospitals need to gain efficiencies; the PRIP will allow your hospital to dedicate staff and resources to areas which will provide a greater return. ParaRev’s Revenue Integrity Program audits your hospital’s revenue cycle to ensure appropriate charges are created, captured, coded, and priced correctly. The PRIP will also integrate your Department Managers into the revenue cycle to make them active participants in charge creation, capture and reimbursement.
Hospitals work continuously towards making sure their charge master is up-to date, compliant and priced appropriately. Many bring in outside vendors to perform detailed audits of their charge master to review pricing opportunities, coding/compliance issues and to identify missing charges. Having an outside vendor perform these reviews is helpful because it beings a fresh set of experienced eyes to the task of identifying hidden issues and reveal opportunities for additional revenue.
The goal of the ParaRev Revenue Integrity Program (PRIP) is to audit and enhance your Hospital’s revenue cycle to ensure appropriate charges are created, captured, coded and priced correctly.