Reliable Medical Coding Services to Maximize Revenue Reliable medical coding can ensure maximum reimbursement for physicians. This article focuses on the nature of such services.
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Accurate medical coding is essential for physicians to claim maximum reimbursement and increase their practice revenue. Many physicians prefer medical coding outsourcing rather than addressing the coding intricacies themselves. There are many medical billing firms that provide reliable medical coding services to maximize physicians’ revenue. However, only reliable providers can offer effective solutions for physicians within minimum time. Companies providing such services will have experienced coding experts and the latest advanced technological facilities. Due to that, coding errors will be minimal, thus enabling physicians to gain maximum returns. Let us look at the features that distinguish reliable medical coding services.
Organized Workflow
An organized workflow is necessary in medical billing and coding processes so that you can trace the entire work easily and identify the reason for a problem very quickly. Reliable coding service providers follow these steps.
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Ensure whether clients have already sent the medical records that include patient demographic sheets and documentation. Check those medical records carefully and assign appropriate diagnostic and procedural codes (CPT, HCPCS, ICD-9, E/M level) for each record along with modifiers if any. Coding team verifies the codes for accuracy. The claims are prepared and submitted to the payers in a timely manner.
Electronic Health Records (EHR) Medical coding service providers maintain patient information as electronic data or electronic health records. Such records facilitate quick and easy retrieval of patient data. Any issues in medical coding or billing can be easily traced and addressed. Competent services ensure accurate coding and maximum reimbursement. EHR software can also ensure valuable time savings for physician staffs so that they can engage in other productive tasks that can bring more revenue to the practice.
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HIPAA Compliance HIPAA (Health Insurance Portability and Accountability Act) strictly regulates the public disclosure of patient’s healthcare information. If the coding services fail to comply with HIPAA regulations, it will result in data breach notifications and increased penalties. This will obviously delay the claims and thereby affect the physician reimbursement. Providers of reliable coding services keep the medical records safe in password-protected computers. They ensure the confidentiality of documents by installing firewall and antivirus in these computers and adopting file transfer with FTP (File Transfer Protocol) and encryption. In addition to that, spoiled hard copies of confidential documents are shredded on site.
Medical Claims Submission at the Proper Time There is a fixed time period for submitting medical claims with proper codes. Claims submitted after that period will be rejected. Dependable providers of medical coding services utilize advanced medical coding software for assigning appropriate codes to various diagnostic and treatment procedures. They offer the service of professional coding experts. Rich expertise in coding along with efficient software can reduce the time taken for coding and thereby help physicians submit their claims before the deadline.
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Internal Audits The coding team conducts frequent audits to check medical coding errors and devise effective plans for eliminating those errors. In this way, these services can ensure accurate claims and the due reimbursement. Internal audits not only pick up coding errors but also evaluate the coding compliance. This will help to avoid claim denials and penalties.
To be precise, choosing a medical coding company that provides reliable coding services can help physicians maximize revenue and grow their practices.
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