As we approach the one-year mark since the switch from ICD-9 to ICD-10, now may be the time for reflection of your practice or hospital system’s medical coding efficiencies. Do you know what the best ICD-10 practices are to ensure profitability and stability?
Take a step back and discuss coding processes with whoever is handling your medical coding. If you have someone in-house managing all coding, are you providing him or her with education on a yearly basis? Investing in continued education is extremely important to ensure the utmost coding precision, especially in this ever-evolving industry.
OUTSOURCE MANAGEMENT OF REVENUE CYCLE
Outsourcing to the right partner can be one of the best option for ensuring maximum profitability and efficiency – and we aren’t talking a truncated approach provided by some software companies. Partnering with HIS ensures that your practice isn’t still doing the heavy lifting as is the case when working with some software companies that also offer billing and revenue cycle management services. We manage all aspects of the revenue cycle to make certain that your organization is at maximum profitability.
Another ICD-10 best practice is to check in on your patient intake forms, insurance forms, and other required documents at your practice or hospital. If these forms were not updated back in 2015, payments are most likely not being processed properly. All forms need to be updated to reflect the codes in ICD-10. It is also important to make sure these forms are being filled out with the maximum information possible, every time.
IS YOUR ICD-10 CODING ACCURATE AND EFFICIENT?
Denied claims are just one sign that it is not. Allow HIS to consult with you to determine where inefficiencies lie, so that we can address them and get your practice or hospital back to being its most profitable. Even better, medical professionals can focus on providing medical care, while we take care of the business.
Contacts HIS today for more ICD-10 best practices and for help getting up to speed with ICD-10.