The Solution for Medical Billing and Coding: 3 Reasons You Should Outsource
Medical coding software is a practice that is used to efficiently classify and retrieve health data. The ICD was first formed in 1948, and it has been revised 18 times since then. The ICD-10 was produced to substitute the ICD-9, which had grown outdated because it had too many categories of diseases. Medical coding system can take a significant amount of time and effort. Not only do coders have to be knowledgeable about the medical terms, but they also need to know how to correctly code for different treatments, diagnoses, and procedures.
Medical coding software
Medical billing and coding solutions can help you pay medical bills faster and more accurately. The software can organize information on your health claims and bills and present them for you to make choices on how to manage the bills if they are to be paid.
The Medical Billing and Coding Solution
Coding solutions are used by healthcare providers to code and organize medical claims, prior authorization requests, and billing. The software can determine how much you owe, when you owe, and how much you have already paid.
Here are some main reasons why medical billing and coding solutions are helpful:
A medical coding software can generate medical bills and reports for different patients at the same time.
ICD-10
The International Statistical Classification of Conditions and Complementary Health Problems (ICD-10) was founded in 1996. While it is the successor to ICD-9, it is more detailed and valuable because it provides more detailed data.
To qualify for ICD-10, a new code category needs to be supported by WHO or an ISO official committee to be the lead organization. For this reason, the countries that are part of the United Nations have a lead role in the ICD.
There are 38 categories in ICD-10, and there are several possible codes that can be applied to the diagnoses and conditions. In total, there are 142 categories in ICD-10, and several medical conditions can be coded for.
Clinical coding solutions
Coding solutions can quickly and efficiently take over the coding work. The medical coding software does all of the hard work of generating codes and facilitates the hiring of coders.
Medical billing and coding solution are cost-effective because they are usually paid every month instead of in one lump sum. They also offer you a way to pay your staff members, making it easier to increase the amount of medical coding work you can provide. The first benefit of outsourcing medical coding is that you can improve the accuracy of your coding solutions by hiring the right coders.
Outsourcing medical billing and coding
There is no denying that medical billing and coding can be highly time-consuming. For some companies, medical billing and coding are some of their most significant expenses, which explains why some medical billing and coding companies charge much higher fees than others. The bottom line is that your time is precious, and you should invest it in areas that yield high returns. A medical billing and coding company can do the job for you at a lower price than a medical practice. Most medical practices are either full or barely able to accommodate new patients.
Conclusion
In a recent interview with HealthCurve’s Tom Sharan, Norbert Stettner, CEO of SaaS-based medical coding services platform, CodAware, explained why he thinks more doctors should consider outsourcing.
From the above, one can consider what a medical coding process entails, what factors you’ll need to consider when choosing a medical coding service, and some of the software that could potentially benefit your healthcare practice.
Hopefully, you’ll find these medical coding best practices and outsourcing trends to be helpful. Always keep in mind the first and the foremost step in medical billing is accurately identifying what the service is for and its intended purpose.
