RAC audits have quickly become a reality in every hospital system. Plus, the costs of managing these audits is increasing for many hospitals. HealthPort has put out this RAC Audits Infographic that highlights some of the trends with RAC audits.
Needless to say, managing these RAC audits effectively is going to be extremely important to a health system going forward. From the AHA RACTrac survey which was the source for the infographic it says that “53% of all hospitals reported spending more than $10,000 managing the RAC process during the 4th quarter of 2014, 32% spent more than $25,000 and 8% spent over $100,000.”
What’s even more interesting is that HealthPort notes that many of the other payers are starting to make similar audit requests to measure the acuity of new patients entering the health system thanks to Obamacare (ACA). As this increases, the financial implications continue to increase as well.
What are you doing to make sure your RAC audits and other similar audits are managed effectively?