CLEVELAND, March 24 /PRNewswire/ -- If you're in healthcare, you've become very familiar with three letters - RAC. The RAC, or Recovery Audit Contractor program, was designed to identify both under and overpayments to Medicare. And it was effective in doing just that - the six state pilot from 2005 to 2008 recovered more than $1 billion, and 96 percent, or $993 million, of that was overpayments that healthcare providers had to return to Medicare. It was so effective that it became permanent in 2006, and will gradually expand to all 50 states by 2010. But the repayment isn't always the most costly part - bringing in an auditor to review your organization's Medicare reimbursements can cost significantly more - if you don't have the right tools in place. Before an auditor marches through your doors, ask: Do I have the tools in place to respond in time and without adding staff? If you answered "no" or "I don't know," there's a free webinar regarding a new RAC solution that could save you millions.
So how can complying with a RAC audit cost more than a reimbursement finding? You have to compile documents - lab results, clinical information, progress notes - that justify Medicare payments. Without the right tools, staff have to manually search for this evidence, which is time consuming and expensive. And, if a relevant document cannot be located within the time allowed, an insufficient proof of medical necessity ruling is likely to be followed by an overpayment determination. Once this happens, you are forced to repay Medicare.
"The RAC is coming whether you're ready or not. We want to help you be prepared for it," said Tim Tegeder, director of healthcare solutions for Hyland Software. "We've done our homework, worked with healthcare providers who were part of the pilot program and have developed a solution based on our customers' real-life experiences. The OnBase RAC solution manages the audit tracking process from start-to-finish so organizations never miss a deadline or have to hire more people. So, when an auditor does walk in the door, that organization is ready."
Here's how it works. Once an auditor's request is received, OnBase automatically calculates and tracks the steps to be completed, assignments, expected completion date, appeal dates and more. A dashboard view of all requests clearly shows the time remaining to complete the next step. And, OnBase stores all information in a central repository so there are no more missing documents. When an auditor comes in, providers have all the information they need to justify all the payments they deserve in one place. And, should there be an appeal, the more information you have, the greater your chances of winning.
Learn more about Hyland's RAC solution, and register for the Friday, March 27 webinar presented by Miguel Zubizarreta, chief technology officer for Hyland Software, at: www.onbase.com/RACAudit. Should you miss the live webinar, the recorded version will be available on the OnBase RAC solution page.
One of the largest independent software vendors in the world of enterprise content management (ECM), Hyland Software is the developer of OnBase. An award-winning suite of document and process management solutions, OnBase has a proven record of solving problems resulting from time consuming, costly and error plagued manual tasks. Today, people at more than 8,000 organizations both large and small in 47 countries have the time to do the things that really add value thanks to OnBase. Available on-premises or as software-as-a-service (SaaS), OnBase installs quickly, cost effectively and is designed to grow with organizations. To learn more, visit www.OnBase.com.
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|SOURCE Hyland Software|
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