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What's the Definition of Good Medical Billing and Coding & How Do We Get There?
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Welcome to episode eight of the RevTech Rx Podcast- Your Prescription for a healthy revenue cycle! This episode is powered by Streamline Health, a leader in pre-billing coding optimization.
Medical coding is where medical records from healthcare providers are translated into alphanumeric codes that inform the billing of treatment received. Coding patient records include important information such as diagnoses, severity, procedures, and services rendered. Medical coding also allows for in-depth analysis that informs the financial decisions of the hospital for the benefit of the community they serve.
Once the coding is complete, claims are submitted to the patient's insurance company or the billing department for reimbursement. When coding errors are present, healthcare facilities face a wide range of problems from over-billing, underbilling, compliance scrutiny, and even recoupment from insurance companies. When the stakes are so high for healthcare facilities, medical coders are tasked to uphold high standards. For medical coders, the goal is to have only five errored charts out of 100 charts coded.
95% accuracy is impressive in itself. There are, however, roadblocks that can get in the way of good medical coding. Errors can occur in the form of how the healthcare industry currently records patient records and support the medical coder. When hospitals invest in hiring experienced coders, providing consistent feedback, aligning communication with other healthcare facilities in the health system, and investing in software programs to validate medical coding feedback; medical coding professionals are enabled to break the 95% industry standard.
There are, however, other considerations healthcare facilities need to take into account when supporting the medical coders. Culture plays a major role in keeping good coders working. As the growing trend of quiet quitting ramps up, pay is just one of the concerns for many employees. Our panel also provides insights on how to build a sticky culture and support a successful career in the healthcare industry.
In this episode of RevTech Rx, we are joined by experts in the medical coding field to not only give you the six pillars to medical coding success but also how to keep good coders through professional development and support.
Connect with our panel of experts:
David Kosloski- Host
https://www.linkedin.com/i
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