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 all 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 generating his/her 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 US Oncology 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 Based on a US Oncology Charge Capture Study of full year 2008, consisting of approximately 200 oncologists from five practices using iKnowMed and five non-EHR practices. Charge capture increases reflect study range. Results will vary from practice to practice and no assurance is given as to any level of billing or charge capture. iKnowMed is not a billing software and the practice, not US Oncology, remains solely responsible for billing and charges.