Coding Review
Interim Auditing
Interim Auditing - Medical Coding Reviews
HIA's Interim Auditing Services are designed to alleviate mounting pressure faced by health systems by managing billing edits, addressing payer denials, rectifying skewed quality metrics, and providing personalized coder education. Our services enhance compliance and auditing processes within health systems, focusing on coding accuracy for diagnoses and procedures, the impact of coding on financial metrics and patient safety, and support for dispute resolutions and coding development programs.
Additionally, we offer specialized audits, such as for interventional radiology/cardiology, and step in to fill gaps in internal audit teams. Beyond these technical services, we assist with integrating new physicians, managing projects related to potential partnerships or acquisitions, and offering guidance to improve coding practices. Our goal is to help health organizations maintain the highest standards of accuracy and efficiency in their coding and documentation efforts, navigating the complexities of the modern healthcare environment with confidence.
HOW WE CAN HELP
Benefits of Interim Auditing
- Specialized Knowledge: Interim auditors quickly address compliance issues with their expertise.
- Flexibility & Scalability: Allows adjustment of auditing capacity as needed, without full-time staff commitments.
- Cost-Effective: More economical for temporary or project-based needs, reducing expenses linked to permanent staff.
- Objective Insight: External auditors offer unbiased views, identifying risks and improvement areas.
- Immediate Impact: Quick onboarding and value delivery, avoiding recruitment and training delays.
- Knowledge Transfer: Enhances internal team skills through sharing of best practices and regulatory insights.
- Compliance & Risk Mitigation: Keeps organizations up-to-date with regulations, reducing non-compliance risks.
- Focus on Core Activities: Frees internal resources for primary functions and strategic initiatives, improving patient care and efficiency.
CONTACT US
HOW WE CAN HELP
Our comprehensive approach
Provide one-on-one coder development/improvement
Investigate skewed quality metrics
Address surging payor denial/appeal volumes
Supplement internal staff for focused auditing
Manage billing edits
Assess coding's role in CMI fluctuations
FAQ
What is interim auditing?
Interim auditing involves the temporary engagement of external auditors to conduct specific audit functions within an organization. These services can range from financial audits, compliance reviews, to specialized audits such as those for healthcare coding and billing.
Why would a company use interim auditing services?
Companies opt for interim auditing services to access specialized knowledge, manage workload peaks during audit seasons, fill temporary gaps in their internal audit team, and ensure compliance with regulatory requirements without the commitment to full-time hires.
How does interim auditing differ from internal auditing?
While internal auditing is conducted by an organization's full-time staff as an ongoing process, interim auditing is performed by external professionals brought in for a specific period or project. Interim auditors provide an objective, third-party perspective and specialized skills not available internally.
What kind of expertise do interim auditors bring?
Interim auditors often possess specialized skills in areas such as regulatory compliance, financial reporting, cybersecurity, and industry-specific knowledge (e.g., healthcare billing and coding practices). They stay abreast of the latest standards and regulations, bringing deep insight into complex audit issues.
Can interim auditors help with compliance issues?
Yes, one of the primary reasons organizations engage interim auditors is to ensure compliance with evolving regulatory requirements. They can identify compliance gaps, suggest corrective actions, and help implement best practices to mitigate risks.
How are interim auditors onboarded?
The onboarding process typically involves a clear definition of audit scope, objectives, and timelines. Interim auditors work closely with the organization's management and internal audit team to understand the specific audit environment, processes, and areas of focus.
What are the cost implications of hiring interim auditors?
Costs can vary based on the auditor's expertise, the project's scope, and the engagement duration. However, using interim auditors can be cost-effective by avoiding long-term employment costs and scaling services to match the organization's immediate needs.
How long do interim audit engagements last?
The duration of an interim audit engagement can range from a few weeks to several months, depending on the audit's scope, the complexity of the tasks involved, and the organization's specific needs.
What outcomes can organizations expect from interim auditing?
Organizations can expect thorough assessments of their processes, identification of areas for improvement, enhanced compliance, reduced risk of fraud or financial misstatement, and valuable insights into improving operational efficiency.
How does interim auditing impact an organization’s internal team?
Interim auditing can complement an organization's internal team by providing additional resources and specialized skills. It often leads to knowledge transfer, improved audit methodologies, and enhanced internal audit functions.
Ready to take the next step?
Whether you have questions or want to explore your options, we're here to help. Reach out to us and let's see how we can assist you. Contact us today!
