“Big Data” has become a critical factor in the development and deployment of healthcare technology. From admission to discharge, providers are collecting “massive amounts of data” to fuel quality analytics for educated decision making. The importance of collecting clean healthcare data is of tantamount importance. Now, more than ever before, providers need as much clean data as possible to be armed with the information needed for accurate decision making. Data is the required input for Machine Learning and Artificial Intelligence as AI uses vast quantities of data to enable providers to make more accurate predictions.
More and more providers are hiring data scientists (some without any healthcare experience) to assist with the delivery of personalized medicine. As the amount of data continues to increase, this provides greater opportunity to find patterns and make more qualified decisions. As an industry, healthcare providers are starting to use (and rely upon) data in a more robust way, as life and death decisions are regularly being fueled by large amounts of data that was heretofore unavailable. The more accurate and pertinent the data the greater likelihood for accuracy in predictions made by the algorithms used in AI and machine learning. Clean data is necessary for everything from determining the odds of success of certain procedures to determining the odds of collecting certain revenue.
FairCode combines 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 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, case mix index (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.