Medical billing industry is facing a lot of changes with challenges also. The ultimate aim of the industry is to increase the revenue for doctors and health specialists by delivering proper benefits for patients. The health care insurance industry has to take the changes and challenges to provide best for the patients. Proper care for the people regarding treatment is most important when it comes to medical billing and health care industry. Our Medical billing process ensures proper payment for clinicians and health care specialists so that the payment is not delayed from health insurance companies. Medical billing companies eases the efforts regarding payment.
An overview on ICD-10
ICD-10 is the updated and most used coding standard used by most of the medical billing companies. There are many considerable changes in ICD-10 comparing with ICD-9. The health care companies and medical billing companies that are using ICD-9 change their coding to ICD-10 standards. This is because to deliver perfect results in coding and billing. The treatment details, diagnosis and the complete care given to the patient is sent to the medical billing companies to code the diseases and treatment to claim the payment for the treatment to the doctors from the health insurance companies. In this case if the medical billing company uses ICD-10 coding format it will be easier for perfect coding by reducing and avoiding the denial rates. ICD-10 is considered as the most successful coding format because the medical billing companies that shifted their coding from ICD-9 to ICD-10 is seeing increasing accuracy and better results.
These days most of the doctors are preparing for ICD-10 since they find it highly successful. They welcome the updates the ICD-10 and they also recommend furthermore updates. The recommended ICD-10 codes should be updated to EHR vendors also. The vendors of medical billing companies should use ICD-10 in their EHR. Learning the updated ICD-10 codes is easy if it is done as early as possible. Due to some reason the coding specialist are hesitated about integrating the medical coding software into EHR practice.
Latest coding format
ICD 10 is the latest coding format that is being used in our medical billing company. The idea of this latest format is to increase patient care all over the country. The patient care can be increased only by proper and dedicated medical care services. Therefore the ICD 10 codes are framed according to the standards to maintain medical practices for sufficient patient care. Since the ICD 10 has come to the industry, the medical practices has started implementing this and our medical billing company has staff members trained in proper knowledge about ICD 10 and we give training to new staff members in ICD 10. With appropriate resources, each staff member is given training with updated coding standard of ICD.
Reducing the denial of claims
This latest coding format includes around 14000 medical conditions and also there are 16000 medical conditions for sub classifications. We know that as the staff member get appropriate training in ICD, we could increase our business in health care as ICD 10 will be best to code as it includes numerous care conditions. This may not be mandatory for the business but it is advantageous for the business to reduce the denial of claims and you will be able to get increasing payments. Rather than losing revenue on various things, it is best to practice and utilize ICD 10 codes so we have completely implemented ICD 10 in all sorts of our billing practice.
Medical billing software
Along with getting trained in ICD for the staff members our billing company uses advanced medical billing software so that we can implement and receive the benefits of ICD-10 completely. Just training the staff members with ICD 10 without changing the billing software does not work well because the staff members will work with the same previous software. If the medical billing software that is updated with the latest ICD 10 then it is not an issue. So we update the staff members with appropriate training regarding everything in medical billing and coding and also we use latest billing software for fast and accurate processing.
Providing ultimate solution
The medical industry is having the best doctors in the world to diagnose the disease and come up with the best available solution for the patients. They find the diseases and the reason for the sickness and also exact physical condition of the students but if they don’t know how to bill it properly then they have to lose the revenue for the care they have provided. This has been a great issue for many doctors as if they concentrate on billing, they are not able to the raise patient care and if they spend more time on patient care they could not concentrate on billing. That is why we take the billing needs of the physicians and clinicians to provide ultimate solutions in effective way.