Medical Coding has become more complex over the last many years even in smaller practice coder may wear more than one Hat. Many coders take entry in health Industry in a different capacity and through experience moved into medical Coding. According to the Revenue Cycle Management Companies Abu Dhabi, payment posting and collection often take the starring role because this is where money comes in. In the new era of value based reimbursement, never before has the process of medical coding had such a powerful impact on Revenue cycle performance. Every stage of the health care revenue cycle has an impact on the next. This Means that what begins as a small problem in one phase has the potential to mature into a costly setback further down the line.
Each step has an imminent effect on the revenue cycle as a whole. Providers must take steps to ensure that the best revenue management practices are being implemented. Determining who will be responsible for the Medical Billing And Coding Services Abu Dhabi is one of the most important decisions within the Revenue management.
Choosing the outsource can improve Efficiency, and can increase the revenue and strengthen the cash flow. During the medical coding stage medical coders translate the diagnosis on the patent's charts into ICD codes.
The denied claims put a major strain on Revenues as they can delay or even stop payment to providers. A 2014 survey from the medical group management association found that every denial costs $25 to $30 each to work ideally. Working with coding denials is a time consuming it takes a multi steps to observe and find out the reasons for denial and re submitting the claim. Some third party revenue cycle firms will handle the breathe of provider's entire coding functions, many will act as an extension of the current in house coding team providing support to existing staff and reducing the workload.
A complete and accurate code assignment requires a thorough review of clinical information as coding has transitioned from task to a role, taking time to completely and accurately documents and then subsequently code patient records will have an increasing impact on practice of bottom line given the requirements communication between providers and coders will become even more important so putting processes in place to address coding need to be a priority. Paying a very close attention to necessary it may be expensive but longer a coding mistake is left undetected the more effort it takes to correct. Other value based reimbursement models can mean missed payments. Taking time outset to evaluate and realign coding process and staff will result in fewer denial and Quicker accuracy.
Finding the all puzzles is very difficult. Coders can expand knowledge their job can no longer be that just silent coding for hours, day in day out. Rather needs to be an educational components of how they fit into the revenue cycle and how their role, which is sometimes overlooked, is an integral part of optimization reimbursement while ensuring compliance with state. They need to know the downstream and upstream effects of Revenue cycle performance and the journey of the claim. The reality is coders will continue to play a pivotal role for the foreseeable future. Focus on continued education, cross training and programs. Accurate and compliment coding practices drive financial performance by mitigation compliance risk along the way. The government and commercial payers are scrutinizing provider documentation to reduce unnecessary procedures that increase cost of care while ensuring the Quality of care continues to rise. Coders need to play a larger role in solving the revenue cycle and improving it's performance.
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Fast Track Claims Management Consultancy
Abu Dhabi, U.A.E
Phone: +971 2 6580360
Mobile: +971 52 3747557
Fax: +971 2 6657764