As COVID-19 figures begin to rise again throughout the Southeastern US, hospitals are seeking new avenues for generating revenue. FairCode hospitals will generate much needed cash in light of the revenue challenges hospitals now face. Over the past 19 years, we’ve found most (if not all) hospitals aren’t fully compensated for inpatient services they provide. Often, engaging the right clinical case review tool can make all the difference in generating new revenue. In most cases, FairCode hospitals generate in excess of $1 million annually with revenue that was not otherwise expected.
FairCode laser focuses on optimizing inpatient DRG revenue. Here are some highlights of the FairCode system.
• FairCode supplements coding staff with 100% physicians trained in claims review alongside a proven program with documented results.
• In today’s COVID-19 times, FairCode can retro-bill for up to the last 12-months to accelerate the capture of much needed cash.
• All FairCode hospitals stay cash flow positive while enjoying a 299% average ROI. Johns Hopkins, Houston Methodist Medical Center, and Vanderbilt University and Children’s Hospital are among FairCode’s 91 client hospitals - all of which are long-standing clients.
Dale Hocking, the CFO at 201-bed Jupiter Medical Center, captures the FairCode program revenue solution well in this two-minute video.
FairCode is committed to help its member hospitals manage during these uncertain financial times. For hospitals uncertain about the bottom-line impact FairCode can have on revenue, FairCode will prepare a free cost/revenue assessment. After the assessment tenders positive results, FairCode provides a cash-positive 13-week trial to financially test the program. Hospitals should expect no cash outlay until after FairCode brings in the revenue to cover payments to FairCode.
FairCode increases clean claim ratios by combining the domain expertise of experienced physicians with modern data science and analytics technologies to increase hospital revenue. FairCode bridges the gap between a hospital’s attending physicians and hospital coders. The result? Patient acuity and Case Mix Index (CMI) are more accurately captured with the correct DRG, and hospital reimbursements adjust accordingly. DRG Validation and physician conducted medical chart reviews happen in real time, significantly impacting hospital quality rankings, CMI and bottom-line results. From clinical validation and chart reviews to payor denial defense, FairCode’s physicians and data scientists are part of a hospital’s coding team. Add FairCode to your existing CDI initiatives and see the difference. Outcomes are measurable and significant. FairCode averages greater than 4:1 Gross Return on Investment.