Increased Revenue Potential

Although iKnowMed is an electronic health record system focused on clinical excellence, it can also offer financial benefits. Charge capture functionality in iKnowMed allows staff to capture charges associated with a patient’s visit, including treatment administration. Additionally, iKnowMed can automatically suggest E&M codes at the time of the patient encounter as a byproduct of the physician-generated progress note, providing a clear and concise audit trail, more thorough documentation and justification for appropriate charges.

When compared with physicians using paper-based records, one study by McKesson Specialty Health showed that many practices using iKnowMed have seen increases in charge capture accuracy in the areas of E&M and chemotherapy administration services, which translated to an additional $35,000 to $86,000 per oncologist.¹