Charge Capture is the action of recording medical diagnoses and procedures. Diagnoses are organized by ICD-10 codes and procedures are codified into a list known as CPTs©, or Current Procedural Terminology. Doctors must record the correct ICD-10 and CPT code in order to be compensated for the care they provided, making charge capture a pivotal component to any practice’s revenue cycle.
Today, most health organizations use paper to record their ICD-10 and CPT codes. We have documented tremendous value in replacing paper with MediMobile’s Charge Capture solution, with practices seeing an increase in revenue of $20k-$30k per provider per year. Why? Charges captured on paper can be lost, misread, or improperly coded. MediMobile’s Charge Capture reduces lost charges, while also drastically decreases your days to bill, allowing you to realize more revenue per month than using paper.
Inadequate charge capture processes or lost charges cost healthcare organizations thousands of dollars per month. Streamlined Charge Capture processes increase revenue efficiency.