When ICD-10 coding got released on October 1, 2016, clients began asking lots of questions. Many clients wanted to know why the changes were so drastic between ICD-9 and ICD-10. This is a question that is not easily answered. There are so many changes that happened in the medical billing field over the past 6 months. Some of these changes are so new that a lot of billing companies have already gone out of business. Unless you know how to work with ICD-10, you will not be able to collect on your claims. Insurance companies will reject claims that are filled out incorrectly.
It seems as though ICD-10 is complicated. Most coders today are still trying to figure out the longer codes. There are over 60,000 of them. It is not easy to find the correct code all of the time. Therefore, it is causing a problem in the healthcare industry right now. If you cannot get paid on your claims, then the hospital, treatment center or other type of practice cannot collect money. If not money is coming in, then nothing is happening in the long term of things. It is a hard situation that is going on for the most part.
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.
It seems as though ICD-10 is complicated. Most coders today are still trying to figure out the longer codes. There are over 60,000 of them. It is not easy to find the correct code all of the time. Therefore, it is causing a problem in the healthcare industry right now. If you cannot get paid on your claims, then the hospital, treatment center or other type of practice cannot collect money. If not money is coming in, then nothing is happening in the long term of things. It is a hard situation that is going on for the most part.
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 business has a medical billing coding program that is good for our clients. We have several clients that are already seeing a 30% increase in their revenues because of our work. A lot of medical billing and codeing company's specialize in ICD-10 coding.
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