One of the challenges in revenue cycle management is the ability to convert medical conditions and procedures into codes accurately. Healthcare providers struggle with these issues on daily basis. US healthcare industry has been changing rapidly with many new rules and implementation. It has become more compelling than ever to have medical coding done accurately.
US healthcare is scheduled to implement ICD-10 codes with effect from Oct 1st 2014. This means more planning and focuses on the coding process. Providers are already facing increasing healthcare cost and reducing reimbursements in addition to the ever changing rules and regulations of the payers. Providers are looking at ways to reduce their expenses and optimize their revenues. Providers have started to pay more attention to their medical coding and billing process. They would like to get paid appropriately for all the services they provided to their patients. They like to streamline all processes starting from patient registration to reimbursement.
Medical coding services can make a big difference between a claim getting paid and being denied. Medical coding requires a certified coding professional, who has the ability to combine their knowledge with coding tools to provide accurate coding. A good coding service reduces inefficiencies and increases quality. It has the ability to use coding experts, latest technology and proven process well. Medical coders need to work closely with the providers to understand the treatment patterns. Medical coding services company also offers on-site and off-site audits to ensure compliance.
In today’s environment coding services are offered both in on-shore and off-shore models. In many cases a combination of onshore coders and offshore coders are used. This helps to reduce cost and also to scale up on demand. In many hospitals coding work gets delayed and results in backlogs. Medical coding services help well in these cases by adding additional resources immediately to clear the backlogs. If medical coding departments are managed well it sure becomes a cash generating source for the providers.