Audit your medical records to track missed charges
The best way to measure how much money your practice is leaking is by using a medical record audit. Ask your manager for permission to review the records; this is a great task to tackle during slow times. You'll pick 20 medical records for each doctor—half outpatient and half hospitalized cases—from the most recent month.
For each week of the month, pick five records from different days of the week. Compare the services noted on the medical record to those listed on the client's invoice. Record your findings on a summary list—include the doctor's name, the client's name, the date of the visit, the day of the week, the total amount the client paid, all of the services or products the client received that weren't invoiced or were discounted, and the standard price of the product or service. When you're done collecting this information for each doctor, total the items the client wasn't charged for and calculate it as a percent of the amounts invoiced. Use this form to help you get started.