Charge Capture describes the process by which patient and procedural information is captured during a medical practice’s billing and revenue cycle. Because errors can significantly impact revenue, timely and accurate information transfer is essential for ensuring positive return.
Revenue loss due to lost charges results in $25,000 annually
Revenue loss due to under-coding costs practices is $36,000 annually, according to an estimate reported by American Academy of Family Practice (AAFP)
Revenue loss from using paper or EMR charge capture can costs as much as $113,000 annually
This does not include time spent capturing patient charges using traditional desktop based EMR portal (annualized estimated value of $52,000).
Hint: another reason why having mobile charge capture tools is crucial for physicians success.
Our own analysis pinpointed the following features needed for a successful mobile charge capture application:
Searching, favoriting, and combining relevant ICD/CPT codes
Viewing patient demographics, diagnosis, and charges in a single glance
Adding multiple patients, images, follow-up lists, and codes all within a few clicks
While most platforms incorporate some of these features, DocCharge takes it a step further by using an innovative mobile design, guided by a practicing physician’s experience to integrate all three within a patient rounding list.