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.