Revenue Management RAC Tracking
RACovery Toolkit™
Are You Ready for the CMS Recovery Audit Contractor (RAC)?
The permanent RAC program will be an enormous adjustment for every hospital. In preparation for its rollout, all hospitals must implement a process to manage the RAC audits, from tracking medical record requests to making appeals, as well as identifying areas for process improvement. Integrated Revenue Management (IRM) can assist your hospital with this daunting task with the RACovery Toolkit™.
What will RACovery Toolkit do for you?
- Track all RAC letters by giving your hospital a central location to collect and store detailed RAC account information.
- Manage the medical record request and submission process by tracking all deadlines and alerting you of overdue medical records. It tracks all submissions of medical records to the RACs, including the date the medical record was sent, the method of submission, and tracking number.
- Identify accounts awaiting RAC responses.
- RACovery Toolkit aggregates your data to allow for analysis and understanding of the financial impact of your RAC audits. It allows you to review the financial outcomes of the audits by various criteria: by attending physician, coder, reason, service area, etc.
- This data aggregation will assist in identifying opportunities and needs for process improvement or focused education by identifying high risk areas.
- Assist in managing the appeal process by tracking appeal deadlines as well as the outcome of each level of appeal.
- Decrease audit requests and denials.
- Access RACovery user group and forum calls.
- Improve financial performance.
The RACovery Toolkit is a comprehensive tool that will ease your pain of RAC audits.
RACovery Toolkit Demonstrations
To schedule a RACovery Toolkit demo for your facility, please complete and submit a RACovery Toolkit Demonstration request form, or email RACovery@irminconline.com, or call 760.448.1019.
