While always a difficult process, medical coding has become a highly technical skill that requires trained specialists. New regulations over the last few years have made medical coding more complex than ever, making outsourcing a very practical solution, whether cleaning up a billing backlog or on a permanent basis.
This is especially true if you want your practice to run smoothly and efficiently with enough operating capital to cover your monthly bills. When over coding or under-coding happens, reimbursements may be rejected requiring resubmission. Errors in coding can be costly. After all, your business is the care and well-being of your patients and customers and a smooth operating business with positive cash flow, eases everyone’s stress levels.
Accuracy of Data
With the technology that is necessary to set up a system for coding in your practice outsourcing is not only a viable alternative, it is a decision that will enable you to send your coding requirements to skilled medical coding specialists whose sole objective is your medical coding and getting it right the first time.
The cost of adding computer hardware and software to your existing business, as well as the addition of skilled personnel, needs to be addressed when considering outsourcing medical coding for your healthcare facility. This cost alone can take a healthy chunk of your income and accuracy is paramount to ensure that your medical coding is done right the first time. When outsourcing medical coding your outsourcing company will be responsible for these costs.
Why Outsource Your Medical Coding?
With the addition of over 120,000 new codes when the change from ICD-9-CM procedure and diagnosis codes, to the new ICD- 10 code sets was implemented across the medical community on October 1, 2014, has become overwhelming for some medical practices and other health care facilities. This change has created an issue for day-to-day coding, as well as finding time for the backlog that has been created in some offices. This is where outsourcing your medical coding can help you.
Many Reasons Why
Outsourcing will relieve you of the need to worry about whether your in-house coding is being recorded properly. Accuracy of your medical coding will be performed with fewer errors when outsourcing. Coding errors mean delayed payments for your practice. Outsourcing the medical coding of your health care facility will be a financial benefit, which is one of the best reasons to use this service.