COVID-19 Impacts Lives & Revenue

In this time of uncertainties primarily caused by the COVID-19 crisis, the number one concern remains the health and well-being of the hundreds of thousands of affected patients worldwide. We pause to thank the brave healthcare workers that tirelessly go to work, day after day, knowing they are inches from a highly contagious and potentially fatal virus. Corona Virus has just started to leave its footprint on humanity, as we will all see the ramifications of this outbreak for many years to come.

As COVID-19 cases rolled into hospitals across the US in record numbers, the Federal government enacted a mandate to cease all elective surgeries. An immediate impact was felt throughout the hospitals. Surgery beds empty, to be converted to medical beds. The financial result of switching from surgical DRGsto medical DRGswill reduce revenue, as the medical DRGs do not pay as much as the surgical DRGs. Additionally, due to losing the complexity of the surgical cases, case mix indexeswill fall, which will directly affect next year’s revenue. In this time of crisis, the demand for revenue generating solutions like FairCodeis stronger than ever.

FairCodecombines the domain expertise of experienced physicianswith modern data science and analytics technologies to increase hospital revenue. FairCodebridges 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 Validationand physician conducted medical chart reviews happen in real time, significantly impacting hospital quality rankings, case mix index (CMI)and bottom-line results. From clinical validationand chart reviews to payor denial defense, FairCode’sphysicians and data scientists are part of a hospital’s coding team. Add FairCodeto your existing CDI initiatives and see the difference. Outcomes are measurable and significant. FairCodeaverages greater than 4:1 Gross Return on Investment.

http://www.faircode.com/