What You Don’t Ask about Medical Coding Can Hurt Your Bottom Line
Medical coding is like racecar driving… if you stay idle, you lose. The coding landscape is forever evolving with new twists and turns every step of the way, and providers have no time to waste when it comes to staying on track. AdvantEdge welcomes you to our three-part series on the complex world of medical coding with an emphasis on what you need to know before committing to a medical billing or medical coding company. Below is an overview of what each upcoming blog will address. We invite you to share your feedback and comments – and we hope this information will be instrumental as you ensure that your medical billing company is appropriately maximizing reimbursement for all your hard work. If you do your homework and use a medical billing company with superior coding capabilities, you will experience a smooth road ahead!
(Part 1) Coding Counts: Medical Coding in an Ever-Evolving Landscape
The world of medical coding is forever evolving. With new Medicare regulations involving Medical Decision Making (MDM) implemented earlier this year; coding changes due to COVID and telehealth; and now exit strategies needed when COVID coding provisions potentially revert to pre-COVID status, using a company that employs certified coders and embraces leading-edge technology is critical. Healthcare providers must also make sure they choose a medical billing company that thoroughly understands and stays current with all aspects of coding in their specific area of specialty – and does so in a timely manner. Our upcoming blog post will offer a comprehensive overview of the importance of understanding these factors – and will highlight key questions to ask before deciding to partner with a company.
(Part 2) Turning to Tech: Keeping up with Technology & Automated Workflows
With an increasing and evolving abundance of data associated with revenue cycle management and specifically coding, technology and workflow processes are essential considerations when choosing a medical billing company. Today’s medical billing companies must implement and utilize the latest technologies, as well as maintain the ability to customize workflows – and steer clear of cookie-cutter approaches. Leading providers want to partner with a company that considers technology a top priority and relies on proprietary software specifically designed for physician billing. These technologies are essential when dealing with coding and its abundance of workflows. Our upcoming blog post will offer a comprehensive picture of the importance of technology in the coding and workflow processes – and will highlight key questions to ask before choosing or assessing a medical billing company.
(Part 3) Partners in Profitability: Education and Compliance
Education and compliance go hand in hand and are essential to both coders and healthcare providers. Like the saying goes: “Knowledge is power,” and this is especially relevant in the complex world of coding. No one wants to see their hard-earned dollars left on the table, and that includes healthcare providers. Our clients help their patients optimize their health, and it is our job to ensure they are appropriately paid for those services. Team up with a medical billing company that excels in these areas – and that thoroughly understands the nuances of the forever-evolving coding landscape (and shares this knowledge with their clients through education and training.) A best-in-class medical billing company collaborates with its clients on issues around proper clinical documentation; promptly conveys changes in regulatory requirements and compliance; informs providers of coding changes and how they impact provider documentation; and serves as an ongoing source of education and information. Our upcoming blog post will offer a healthy overview of the importance of education and compliance – and will highlight key questions to ask before selecting a medical billing company.
We look forward to diving into this in-depth series about coding, where we share critical thoughts and ideas about this important component of the revenue cycle management journey. Stay tuned for Part One of our Three-Part Series where we share essential questions to ask a medical billing company about its coding capabilities. Answers to these questions could very well impact your bottom line. Until then, keep up to date on AdvantEdge and its medical billing initiatives by visiting our LinkedIn page.