Today’s healthcare currency is all about time and money. As forward as that sounds, everyone is striving to provide the best care in the least amount of time while accurately capturing compensation for their healthcare compliance program.
To that end, if you are not continuously monitoring physician compensation for medical directorships, on-call and co-management agreements, you may be at serious risk for healthcare fraud.
Understanding the following three signs will help you better manage physician payments and strengthen your compliance program:
- Lack of technology. Many healthcare organizations lack the technology to properly log, track and report physician activities for accurate payments. The massive amount of time spent chasing physicians for logs has become increasingly challenging, especially when dealing with ineligible handwriting and signatures. Therefore, it has never been more important to implement a physician time tracking app that can electronically capture physician logs, e-signatures, contract activities, on-call days, and much more.
- Inefficient processes. With providers busier than ever, inefficiencies in the logging process can result in workflow bottlenecks, leading to delayed payments, decreased staff satisfaction and declining productivity. To reduce risk in your compliance program, it is essential to utilize an efficient system that can track physician logs and provide quick payments for service in a highly compliant format.
- Economic feasibility. Wasting time chasing paper time logs and signatures could be jeopardizing your compliance program. Adopting a physician tracking app, that can easily track logged activities, could save your organization time and money.
What to look for in a physician compliance timekeeping app
Look for an easy-to-use app, preferably one that works on a variety of devices—laptop, tablet and smartphone. You want the software to be available for download on any device your physicians use, and availability on a mobile device will complement a physician’s busy schedule. Check the level of complexity for the physician to complete an entry. A lengthy logon process will prohibit routine use so look for simplicity in the number of tasks involved in entering time. The easier the app is to download and use will be key to consistent usage.
To ensure compliance, create a review and approval workflow. Make sure your timekeeping application allows for hospital stakeholders to review and approve physician’s timesheets with a finance manager providing final approval. The ability to compare the contract against the time and activities worked is pivotal in ensuring the correct amount is paid.
Also look for an online record or an electronic audit trail. An audit trail will help you comply with regulatory requirements and will also provide the documentation necessary to ensure you’re paying physicians appropriately, on time, and avoiding payments on expired contracts.
For as little as $10 per month per physician contracted, you can ensure compliance with Dynafios TRACE physician compliance timekeeping software. TRACE was specifically developed to ensure the physician time tracking workflow is easy to follow and regulatory compliant.
With the continued introduction of new and changing regulations by the OIG, it is no longer safe to sit idle. Instead, it is more important than ever to stay ahead of healthcare fraud by adopting an innovative time tracking app that is both efficient and affordable. To learn more, email us or give us a call at 877.858.3262.