The 2% Solution: Avoid Undercharging and Optimize Revenue for Your Hospital

According to the Healthcare Information and Management Systems Society (HIMSS), charge capture errors or missing charges should occur on less than 2% of accounts or claims as a best practice standard. And, as we know, that 2% can equate to millions of dollars per year for a typical health system. Charge capture errors aren’t the only inaccuracies that can be hazardous to your hospital’s financial health, however. Add up the healthcare regulatory compliance fines related to non-compliance and settlement costs associated with overcharging, and a hospital could be looking at a significant impact to revenue at a time when margins