Medical diagnosis coding, or ICD-10 coding, is the alphanumeric diagnosis code assigned to every single patient encounter. In the world of medical billing, ICD-10 coding encompasses much more than that. ICD-10 coding, in particular, allows for every single visit to be billed by the medical office based on an assigned diagnosis. It allows for the insurance and patient to pay, and for the medical provider to be reimbursed. In other words, ICD-10 diagnosis codes are some of the cogs that keep the healthcare finance wheels turning.
Crack the Code
ICD-10 codes are complicated, and growing even more complicated. So, while medical providers know the ins and outs of a COPD exacerbation requiring quinolone antibiotics, they don’t necessarily know how to code for it to ensure accurate billing, appropriate revenue, and to prevent claims denied as a result of inaccurate ICD-10 assignments. This is supported by research across different specialties.
Medical providers, who did have a decent handle on the codes, are now at a disadvantage, as the 17,000 ICD-9 codes have switched to a completely new ICD-10 system with over 140,000 codes and hundreds of thousands of combinations. Learning the ICD-10 system from the ground up, and staying up-to-date on the latest developments and billing rule changes could be a career in and of itself and, as a matter of fact, it is.
A Little Help
With the complications of ICD-10 coding and how enormously it can affect your practice’s revenues, it makes perfect sense to outsource this intricate work to professionals who have specialized in medical coding and billing for years. Outsourcing ICD-10 coding provides a wealth of advantages over trying to manage it in-house, both philosophically and from a dollar-effectiveness standpoint.
What are some advantages to outsourcing the ICD-10 coding for your practice? They include:
Coding Workforce That Expands or Contracts Based on Need
Outsourcing allows the ultimate flexibility for the changing needs of a practice. If your practice begins small but grows into many providers, outsourced coding can often expand instantly to accommodate the scale, instead of more time lost searching and hiring more trained coders.
Whether you’re a CareTracker user or your entire practice runs on Epic, outsourcing your ICD-10 medical coding allows you the flexibility to use whatever electronic health record combination you like without the worry that your in-house coders won’t be trained in how to use them.
HIPAA and MACRA Compliant
Ensuring your ICD-10 coding strategy is compliant with the latest rules and changes becomes even more complicated when you consider the requirements for your coding to be HIPAA and MACRA Compliant. Outsourcing to medical coding services can relieve you of this hassle.
Outsource to a Dedicated Professional Medical Billing Team
There are numerous other benefits to outsourcing your medical ICD-10 coding to professional billing services like Delphi Management Services. Companies like these are experts dedicated to the billing process. They can greatly free up your precious work force and significantly increase efficiency in the workplace. Now, you can worry about medical care, not alphanumeric codes.