How the Internet is Reshaping Medical Coding and Billing
Dec 05, 2021 21:24
The internet has brought a ripple effect in most industries. That includes the medical industry, and more exclusively the Medical Coding and Billing industry. Before understanding the changes, the internet has brought to this industry, you must understand what the industry entails:
What Is Medical Coding?
Medical coding is the procedure of taking notes from all patient interactions and then turning them into codes for the insurance companies. The information collected is turned into alphanumeric codes so that there is a proper way of billing and transferring information. Medical coding makes it easier for the information to be transferred to different departments to ensure no errors and that crucial information is not lost between communication lines.
What Is Medical Billing?
Medical billing is the next step after the coding process. As soon as the coding is complete, patient claims and invoices generation starts. The bills are then sent to insurance companies to decide whether they approve or deny them. The insurance companies' information for the service and procedure that is not typically covered are then sent to the patients for payment.
The two procedures are important processes that contribute to patients getting the treatment they need. They also remove the hassle of generating bills and sending medical information to insurance companies or concerned departments. The coding was previously done on paper which took a lot of time and resulted in several errors. However, things are changing, the age of the internet are reshaping the industry entirely, let's learn how:
How Is Internet Reshaping The Industry?
Carrying several codebooks around to encode a medical interaction was very bothersome. There are several different codes expanded in several books. Coders cannot possibly cram all the codes or spend ages to code a simple piece of information. This is where the internet comes in.
With the help of the internet, coders can code the information they extract without going through the trouble they previously did. Moreover, coding manually meant a lot of errors as it was too difficult to cross-check the codes, and many errors would slip through.
With the advent of the internet, information transfer is a lot more efficient and results in lesser denials. Since there are few errors, it becomes easier for insurance companies to approve of the medical information they receive. This also results in the quick exchange of medical treatments and payments. Patients now do not have to wait for several days for the insurance companies to approve of the procedures and can get an answer as quickly as possible.
The internet also made it possible for newer codes to replace the older ones without any problems.
The Introduction of ICD-10-CM/PCS
Previously, medical coders used the ICD-9-CM, but now the system has changed to ICD-10-CM. Many revisions come with this shift, so let's take a look at all of them:
•The newer version has more specific codes compared to the previous extensive ones. The newer codes also feature all the diseases discovered recently.
•Since the newer code is all about increasing efficiency, it introduces newer payment methods to ensure smooth payment process.
•The new code system has made it excessively easier for coders to determine the different medical processes and their outcomes.
•The records generated previously were not as detailed. On the other hand, the newer system, on the other hand, will be able to produce more detailed records.
•In the previous system, the codes were limited to the numeric digits until 5 but the newer system features alphanumeric characters up to 7.
•The HIPAA has laws about electronic records and medical coders are now directed to comply with those standards for all their codes.
Advantages of Software
Several software have changed the entire process of medical coding. Here are some advantages of these software:
•Coders can now look up any medical terminology they want easily. Be it anatomy or physiology, coders can look for the terminology on these software in real-time to continue with their medical coding.
•Since there are different types of medical coding, these software make it exceptionally easy for the coders to look up various coding texts and complete their coding without problems.
•These software also include different guidelines as they are important to comply with. Coders can simply cross-check to see whether their codes comply with the guidelines.
•There are several advancements in the field regularly, and these advancements include the addition of new procedures and the different guidelines the coders are requested to comply with.
Medical coding companies are evolving with the advent of technology and are keeping up with the changing requirements. If you are seeking a job in a reputed medical coding company, then you must make sure that you understand the influence of the internet and know about all the changes that come and go. You must be very accepting of the new changes and flexible to learn. Medical coding is an evolving field, and one cannot progress if they do not keep up with the times.
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