3 in 1 ROI: Why high auto-coding accuracy with Precise Word Matching AI pays for itself with three ROIs

Cavo Health uses Precise Word Matching AI to achieve very high coding accuracy. Typically today, when used as a First Pass coding tool, Cavo Health will auto-code medical records with better than 95% coding accuracy and less than half the False Positives of other methods. This level of coding accuracy provides three different positive ROIs.

In other words …. Cavo Health is the one product on which the Head of Compliance and the CFO can shake hands.

ROI #1: More Accurate Coding Means More Risk Adjustment Reimbursement.

Using coding methods for the purpose of generating more revenue is a compliance red flag. But the good news for the CFO is that the more accurately the medical records are coded for risk adjustment, the more valid HCCs that are typically found, and thus the more risk adjustment revenue. The key is to use a coding method that improves coding accuracy, both in terms of fewer invalid codes as well as fewer missed codes. A scientific study shows that Cavo Health has a substantial positive impact on improving HCC count versus another computer-assisted review method solely because of higher coding accuracy. Ask us about it.

ROI #2: Higher Coding Speed Means a Lower Cost per Chart Reviewed.

Cavo Health’s Precise Word Matching AI not only finds the risk adjustable codes with high accuracy and fewer False Positives, it also gives the coders all the information they need to make coding decisions in seconds rather than minutes. What section of the record is the diagnosis in? Check. Are there any supporting medicines? Check. Is it a combination code, a primary code, an acute code, or a chronic condition? Check. Check. Check. Check. Is it signed properly by a physician? Check. Is the code allowed by that year’s mapping? Check. Is the correct mapping used for that DOS? Check. And so on.

As a result, Cavo Health coders usually double their coding speed in the first few hours of using the system. Some coders achieve 5X their manual coding speed over time. And that means the cost of coding a chart goes down as your coding team becomes more efficient and even more valuable to your organization.

ROI #3: High Coding Accuracy Means Lower Projected Cost for RADV Audit Risk. 

Everyone knows that RADV audits are not only costly in hard dollars, but the disruption is expensive in soft dollars. And cost of failure can be catastrophic. But this need not be a worry for Cavo Health users. Cavo Health’s Precise Word Matching AI generates high coding accuracy with no human intervention. Your coders are provided diagnoses to code where the words are always sufficient to confirm a risk adjustable ICD. Coding error rates when using Cavo Health are far below error rates produced using other methods. Consequently, the projected cost of future RADV audits falls as the risk of non-compliance falls.

Talk to us. Let Cavo Health provide you with a pilot so you can see for yourself the unique benefits of Precise Word Matching AI for coding accuracy and the intuitive Cavo Health coding interface for coding speed.

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