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Exceptional Coders | Innovative Technology

Outsource Your Coding Reason 3 of 10: Reduce Costs

Posted by Ben Castleberry on Jul 8, 2015 2:38:00 PM

This is post 3 of a 10 post series on the top 10 reasons you should consider outsourcing your coding.

 

The ICD-10 transition is daunting for providers and physicians nationwide. The ICD-9 coding guidelines include a set of about 17,000 codes. Once ICD-10 is implemented on October 1st, 2015 there will be a whopping 140,000 codes. That is more than 8 times the amount of codes! This increase in diagnosis and procedure codes will unquestionably be accompanied by a decrease in medical coders productivity. Denials will increase and revenue will decrease. Let me repeat that for emphasis, ICD-10 will have a negative impact on your revenue. The question on the minds of thousands of healthcare professionals is how to minimize the impact.

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Topics: Top Reasons to Outsource Medical Coding, Revenue Cycle Management, Experienced Medical Coders, reduce costs

How Medical Coding Fits into the Revenue Cycle

Posted by Ben Castleberry on Jun 19, 2015 10:00:00 AM

Revenue cycle refers to "All administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue," as defined by the Healthcare Financial Management Association (HFMA). It includes the entire life cycle of a patient account from initial appointment setup to payment receipt.1

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Topics: Revenue Cycle Management