Entering right code always is arduous, but at the same time, it is an integral part of revenue cycle management process which is necessary for keeping the practice afloat. According to a Boston based healthcare research firm, almost 80 % of the medical claims contains flaws and eventually becomes the cause of claim rejections. In fact, under-coding alone has the capacity to destroy the medical groups in several ways. It can lead to failure in audits, legal repercussions, credibility issues and the major and the most despondent is revenue loss. So, to avoid such upshots, medical group should brainstorm and introduce practices which results in error free codes, perfect medical billing and cleaner claims.
These strategies and ways succor you to eliminate the chances of coding errors while generating claims:-
1. Training is prerequisite:
Conducting a training session when coding errors are high is a wise action, but training the coding team before induction and on regular interval of time after induction is wiser. This helps them to be up-to-date and adapt to meet the changing demands of the industry.
2. Attention to documentation:
To enter correct codes into every claim, proper documentation is essential. Therefore, getting all the services noted in the document and that too correctly is vital.
3. Cross checking:
Verifying and double checking all the various set of codes that are used during medical billing can mitigate major chances of under-coding. In fact, this is the easiest way to clear all the doubts pertaining to the coding, and help you get the assurance and base to use right codes while generating claims.
4. Know, when to bundle and when not to:
Knowing the basics of bundling and unbundling is imperative in medical coding. It could make a huge difference in the coding and can result to up-coding or under-coding if gone wrong. Hence, a smart coder should know when to bundle the services and when to code them separately.
5. Continuous monitoring and audits:
This clever action of frequent monitoring, which includes timely internal and external audits, helps the medical group to ensure best coding practices and consistency is used during medical billing and coding. Monitoring accuracy of codes in a timely manner, reduces the chances of errors and save the organization from revenue disruptions.
The current state of coding is quite dynamic and medical practices across the US are struggling to keep up with this reality. So, it is intelligent on their part to get a help from experts like OutsourceRCM. Being a premium medical billing and coding outsourcing company, we are well versed in dealing with all the various kinds of revenue cycle disruptions and help healthcare practices of all sizes to embrace industry best techniques to get higher revenue and better performance.
