Employing certified coders allows healthcare providers to maximize revenue and reduce expenses, and this is a win-win combination for many. Certified coders however are not cheap to have on a payroll and if you are running your medical billing and coding services in-house you can expect to shell out an average of $38,000 per year in salary, and in some states, this number can be even higher. With costs associated with employing certified coders rising, we discuss how to get the most revenue benefits by using them within your healthcare practice.
Medical coding services cservices carried out by employees with proper certification ensures higher accuracy and better reimbursement rate as there will be fewer claim denials. Accurate coding the first time round also ensures that claims do not have to be resubmitted, and they are approved within the shortest possible time.
Delving into the results from heathcare data analytics and data from EMRs, coders can identify problems that are causing claim denials.
Less time needs to be spent by all employees, including receptionists and physicians, in processing and resubmitting claims and this allows their productivity to rise.
Trained and certified coders easily spot missing information such as modifiers, prior authorization needs, wrong dates of service, coding errors and help avoid late submissions.
Changing regulations pertaining to reimbursement and coding means that staff need to be trained continually and this can be handled by certified coders. With hands on experience dealing with coding and other related activities they will be able to guide staff more effectively than others in hospitals. For example, when coders work along with physicians for a day they can help them document items like reviewing x-rays and test results which are often not recorded, and therefore ensure accurate coding bringing in more revenue.
Hiring an expert coder to work in-house and track emerging trends when claims are being repeatedly denied helps pinpoint errors which are causing rejections, and ensure they meet deadlines when being resubmitted.
In order to be certified, coders need to be trained in ICD-10, CPT and HCPCS HCPCS codes and other industry regulations and guidelines governing the healthcare industry. Also they need to update their certification (RHIA, CPC-H, CCA, RHIT, CCS, CCS-P, and CPC)when working. and this makes them better suited for adapting to regulatory changes that might otherwise impact revenue.
Certified coders lessen the pressure placed on physicians to work on documentation, allowing them to focus on delivering better care to patients. This results in increased patient satisfaction rates, which is all the more important as the transition to value base care system takes place.
Ensuring that you have the best talent when it comes to coders and keeping them certified is not a small task and can quickly become a drain on the often limited resources available to a hospital or clinic. Overcome this drawback by partnering with a premium medical billing and coding company like MedBillingExperts. Leveraging our experience in medical billing outsourcing industry, we can help you to tap into our expertise to enhance your revenue.