27 Jun Medical Billing and Coding: Becoming Proficient in ICD– 10 is Important
Proficiency in the new ICD– 10 system is essential when it comes to medical billing and coding and the fiscal health of any healthcare provider. Proficiency is not just needed from those doing the actual billing, but also from healthcare providers and insurers. If you’re finding that your medical coding and billing efforts are beleaguered by mistakes, claims that are not properly handled, or poor turnaround time, then chances are those who are involved in the process are lacking in capabilities and skills.
Results of Lack of Proficiency
Any weak link in ICD- 10 utilization can create problems in your overall coding and billing system and can affect any individual entities connected to the weakness. Careful attention to detail is called for when using the approximately 70,000 codes associated with the new system. In order to ably handle such details in an effective manner, all involved in the process must be completely up to speed.
If this is not the case, then delays in processing and paying claims, increased rejection of claims and additional appeals, and loss of time and fiscal distress are all possible results. In addition, medical claims may be put in serious jeopardy, resulting in delays, frustration, and anxiety.
Need to Take Charge
If you are a provider of medical services or supplies, a professional medical coder or billing company, or an insurer/payer, it’s important that you carefully monitor each aspect of your coding and billing and the processing of claims. Consider if you’re seeing more questions, rejections, or appeals than you had experienced with ICD- 9 and if so, then perform an audit in order to better understand where the weak links might be.
Also, although at first the recording and processing of information under ICD- 10 will take longer than it did under the well known ICD- 9 system, you should, after a few months, see that processing time become shorter. In addition, efficiency and accuracy should also improve. If you have not already set goals for such improvements, you should. Monitor them on both a monthly and quarterly basis. Make sure that your goals are reasonable and logical.
Along with ensuring that your staff is proficient, you may also under ICD- 10 need to increase your number of employees in order to reach the accuracy and turnaround time you would like to achieve. It’s important to give your staff the tools and people that they require in order to succeed.
Time is of the Essence
Whether you’re a provider of healthcare services or supplies, insurance claims specialist, or medical coding or billing professional, make sure that you refine your knowledge of ICD- 10 and become absolutely proficient in the new system.
ICD- 10 was developed for a few reasons, including the need to better track diseases, accidents, and illnesses; to focus on each healthcare provider’s ability to get results; and to be able to better determine the manner in which services are being billed and whether or not they qualify to be compensated for by an insurer.
ICD- 10 represents a whole new way of tracking the actions and results of the healthcare system and for that reason alone efficiency and accuracy are needed. In order for the new system to be a success everyone involved must refine associated skills and capabilities.
The top medical billing specialist nationwide is MPMR. Not only do they have expert billers and coders, they offer operations management as well. Not many physician billing companies offer this as well to improve revenue. Call today!