The unintentional loss or decrease in revenue within a business or organization, often resulting from inefficiencies, errors, or missed opportunities in the revenue cycle.
Mistakes in recording billable services, procedures, or items, leading to underbilling or missed revenue opportunities within the healthcare or service industry.
The practice of assigning lower-level billing codes than warranted by the complexity or intensity of healthcare services, resulting in decreased reimbursement and revenue leakage.
Services provided but not yet billed to payers or customers, contributing to revenue leakage if not identified and invoiced in a timely manner.
A reduction in the billed charges due to negotiated agreements with insurance payers, but revenue leakage may occur if the adjustments are not accurately applied or documented.
Instances where billable services, procedures, or products are not captured or billed, leading to revenue leakage from overlooked revenue-generating activities.
Incomplete or insufficient documentation of services rendered, potentially resulting in denied claims or reduced reimbursement, contributing to revenue leakage.
Mistakes in assigning accurate codes to medical procedures or services, leading to billing inaccuracies, claim denials, and revenue leakage within the healthcare industry.
Fees not applied promptly to customer invoices or patient accounts for services or products provided, resulting in delayed revenue recognition and potential leakage.
Discrepancies or errors in applying predetermined fee schedules, causing underbilling or overbilling and contributing to revenue leakage.
The examination of a chronological record of changes in financial processes to identify and rectify areas of revenue leakage within an organization.
Prolonged waiting periods for payment from insurance payers or customers, potentially leading to cash flow issues and revenue leakage.