The healthcare industry is talking about coding in ICD-10 right now. It is a tough topic to talk about since it is so new. Most physicians and healthcare providers do not understand how ICD-10 works. It is complicated for people that know and understand ICD-9 and it becomes even more complicated when talking about ICD-10. It is a situation in which many people are asking questions. If you have a medical billing company and are outsourcing your work, how should you address clients that call you and say, "Why doesn't this particular code work?" This is a common question that is asked by both experts and non-experts alike.
There was a major shift that took place in medical billing around 6 months ago. Insurance companies started to wise up to fraudulent practices of medical offices. The entire insurance and billing industry has been in a shift for the past several months. It is important to understand that ICD-10 was in the works for several years before it got released. By the time it got released, coders were expected to already have their ICD-10 certification. Many coders thought that they could just get their certification when the codes got released. This was a huge mistake. It can take six months or more to learn how to work with this new coding system.
Clients often have questions about the changes with ICD-10. In order to make it easier for them to understand, it is important to have a small pamphlet ready to go that you can send to a client that is asking questions about this type of coding. Clients will often address you with their own questions and have you talking about your work with them. Most clients today will tell you that they are outsourced their billing to you because their own in house billers are getting low revenues on their claims. The #1 reason why a medical practice would outsource their claims is if they are getting low reimbursements on their claims. Most doctor's report losing 20% to over 30% of their claims each year.
The energy around this is that there is a lot going on behind the scenes. There is a lot that must be addressed for a client's billing to work out properly. As each day passes, billers are learning how to do ICD-10 coding more precisely. It is important to have everything put together in a way that makes sense. In the end, customers always want to see increased revenue. Revenue is always reimbursed when you least expect. Everything seems to come around for the better. Everything begins to move forward in a way that makes sense to both physicians and billers.
Most coders are saying that they have the experience to take things to a higher level. It is hard for a lot of coders today because their jobs are on the line. Clients are often not impressed unless they see their revenues growing. If a coder cannot produce good results, they are often fired and a more experienced coder is hired. The problem with ICD-10 is that it takes years of experience to master. The majority of people that work in billing did not think that the change was going to be so drastic. However, everything from the software to the codes are different and more complex.
There was a major shift that took place in medical billing around 6 months ago. Insurance companies started to wise up to fraudulent practices of medical offices. The entire insurance and billing industry has been in a shift for the past several months. It is important to understand that ICD-10 was in the works for several years before it got released. By the time it got released, coders were expected to already have their ICD-10 certification. Many coders thought that they could just get their certification when the codes got released. This was a huge mistake. It can take six months or more to learn how to work with this new coding system.
Clients often have questions about the changes with ICD-10. In order to make it easier for them to understand, it is important to have a small pamphlet ready to go that you can send to a client that is asking questions about this type of coding. Clients will often address you with their own questions and have you talking about your work with them. Most clients today will tell you that they are outsourced their billing to you because their own in house billers are getting low revenues on their claims. The #1 reason why a medical practice would outsource their claims is if they are getting low reimbursements on their claims. Most doctor's report losing 20% to over 30% of their claims each year.
The energy around this is that there is a lot going on behind the scenes. There is a lot that must be addressed for a client's billing to work out properly. As each day passes, billers are learning how to do ICD-10 coding more precisely. It is important to have everything put together in a way that makes sense. In the end, customers always want to see increased revenue. Revenue is always reimbursed when you least expect. Everything seems to come around for the better. Everything begins to move forward in a way that makes sense to both physicians and billers.
Most coders are saying that they have the experience to take things to a higher level. It is hard for a lot of coders today because their jobs are on the line. Clients are often not impressed unless they see their revenues growing. If a coder cannot produce good results, they are often fired and a more experienced coder is hired. The problem with ICD-10 is that it takes years of experience to master. The majority of people that work in billing did not think that the change was going to be so drastic. However, everything from the software to the codes are different and more complex.
About the Author:
Our organization has a medical billing coding program that is good for our customers. We have several customers that are already seeing a 30% increase in their revenues because of our services. A lot of medical billing and codeing organizations work in ICD-10 coding.
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