Easily Optimize Reimbursement with Vozo EHR in a Large Hospital System
With the rising costs of providing care, declining reimbursements have put immense financial pressure on health systems. Maintaining positive margins is crucial yet challenges remain in optimizing revenue cycle management.
Suboptimal electronic health record (EHR) software implementation and workflows often lead to deficiencies in documentation, coding, and billing processes.
This results in failures to capture appropriate provider charges and increased claim errors that diminish financial returns.
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Major Potential Gains Available by Optimizing Vozo EHR Systems
A recent example demonstrates the revenue opportunities possible when large hospital networks reevaluate their EHR tools and documentation practices.
One major health system saw significant financial improvements within a year of overhauling its EHR system and clinical workflows including:
- Total reimbursements increased by over $60 million
- Claim denials were reduced by over 50% saving hundreds of millions
- Coding accuracy improved from 79% to 95%
- Overall annual patient service charges increased by over $500 million
By ensuring the Vozo EHR system enhances, not hinders, reimbursement processes these results are achievable for any health organization.
Upgrading documentation practices and reducing claim errors unlocks revenue already being left on the table.
As payment models shift towards value-based care, accurate capture of provider services through enhanced EHR use will become increasingly important.
Those who optimize first will gain financial stability and a competitive edge.
Opportunities to Evaluate for Improvement
When assessing their revenue cycle management practices, health systems should evaluate:
- Gaps in documenting billable services
- EHR interface with billing systems
- Claim errors leading to denials
- Provider documentation workflows
- Coding accuracy and complexity
- Current EHR system usability
Even small gains in these areas can positively impact reimbursements.
Yet, many health systems underinvest in optimizing their EHR tools, workflows, and documentation training.
Vozo's Comprehensive Reimbursement Service for Hospitals
If you’re searching for the Best Reimbursement Service, Vozo is here with a complete solution.
Vozo understands the unique needs of individual clients providing the best solution that caters to their needs and requirements.
Vozo’s intelligent software and specialized tools were created specifically to simplify provider workflows while keeping billing needs in mind.
Features like intuitive templates, real-time guidance, and automation help clinical users capture comprehensive visit details without disrupting their responsibilities.