Customer Success: Maximizing Revenue with Charge Capture Audit - The Impact of Timely Billing

In healthcare revenue cycle management, timely charge capture is critical to ensuring that all services rendered are properly billed. Delays in capturing charges can lead to significant financial losses, operational inefficiencies, and missed revenue opportunities. Quinsite’s Charge Capture Audit solution bridges the gap by integrating clinical data with billing data, allowing practices to identify exceptions and ensure all encounters are billed accurately and promptly. To quantify its impact, Quinsite conducted an analysis across 98 practices using our platform, comparing those utilizing Charge Capture Audit to those who do not. 

The Findings: A Clear Financial Impact

Quinsite analyzed billing data from 98 practices, 43 of whom actively use our Charge Capture Audit solution and 55 who do not. The results were striking: 

Delayed Charge Capture:

• Among non-users, 4% of revenue was tied to charges that took more than 90 days to be captured and billed.
• Among users of Charge Capture Audit, only 0.3% of revenue was tied to charges taking longer than 90 days to be captured.
  

Revenue at Risk:

• Non-user practices experienced an impact, on average, of $489,637 in revenue tied to charge capture delays. 
• Practices utilizing Charge Capture Audit saw a significantly lower impact, averaging $120,860 in delayed revenue. 

The Value of Charge Capture Audit

The data clearly demonstrates that practices using Charge Capture Audit experience significantly faster charge posting, reducing the risk of delayed or lost revenue. By proactively identifying discrepancies and unbilled services, organizations can ensure: 

Furthermore, while Charge Capture Audit users still see some delayed charges, the recurring nature of the audit ensures that these gaps continue to be identified and addressed—maximizing the opportunity for complete revenue capture. 

Beyond the Numbers: The True Cost of Missed Charges 

While this analysis focused on delays in billing, it’s important to recognize that non-users of Charge Capture Audit may also be at risk of missing charges entirely. This means that in addition to the revenue delays quantified above, non-user practices may be facing even greater financial losses due to charges that are never captured at all. 

Charge Capture Audit is a Game-Changer 

The difference between users and non-users of Charge Capture Audit is clear—those leveraging the solution are capturing charges more efficiently and ensuring their revenue is recognized sooner. With millions of dollars at stake, the ability to proactively audit and reconcile charges is essential for financial health. Quinsite’s Charge Capture Audit solution provides the necessary tools to streamline this process, prevent missed charges, and improve overall revenue cycle performance. 

Are you capturing every dollar your practice earns? Contact us today to learn how Quinsite’s Charge Capture Audit can optimize your revenue cycle.