Revenue Cycle Audit
A revenue cycle audit is a comprehensive review of an organization’s billing processes, from patient or client registration to final payment. This audit identifies inefficiencies, gaps in documentation, and areas of improvement that may be hindering timely reimbursement and contributing to aged accounts receivable. By examining claims data, denial patterns, coding accuracy, and compliance with payer requirements, a revenue cycle audit provides valuable insights into the financial health of an organization or practice. It is a crucial first step in building a sustainable financial strategy, as it informs a plan to optimize cash flow, reduce outstanding receivables, and improve overall revenue cycle performance.
Pivot First provides comprehensive revenue cycle audits; at the conclusion of an audit, you will be provided with a report documenting:
Strengths: Areas where you excel in your revenue cycle process.
Weaknesses: Gaps or inefficiencies that need to be addressed.
Opportunities for Improvement: Actionable steps for enhancing revenue cycle performance.
Compliance Issues: Any areas of non-compliance with HIPAA, payer, or other regulatory requirements.
Download a Free Revenue Cycle Self-Audit Checklist
A revenue cycle self-audit helps you identify areas where your billing and payment processes can improve. Use this simple checklist to assess your practice and make sure you're maximizing revenue while reducing payment delays.
Need additional support with assessing your revenue cycle? Pivot First Consulting and Management can assist you in a comprehensive process to identify gaps and optimize your billing process for better financial health. Schedule an initial call and take the first step towards maximizing your revenue!
