If you work in the medical billing field, you are probably aware of the fact that many people are scratching their heads and asking themselves, "Is ICD-10 this hard everyone in the world or only in the USA?" This is a great question. The answer to this question is yes! Many healthcare providers around the world say that they are having a hard time with coding. The main reason for this is that the codes are much longer than they were in ICD-9. More documentation is required and insurance companies are rejecting claims for errors.
Many people think that the medical billing industry is changing. It is important to understand that medical billing changes as each day passes. We can see that billing moves us ahead of our times because it's always changing. It is exciting to know that medical billing is only going to become more complex. I find it exciting because you don't have to be bored at work. You need to figure out and focus on what is most important. It is important to put all of the pieces to the puzzle together. Most people wonder what is happening in the billing world today.
Insurance companies today are looking for any way that they can reject your claim due to your own errors. The truth of the matter is that it's going to be harder to get checks from the insurance companies in a timely fashion. Most companies will suffer because there are not enough medical billers in the world today. It is estimated that 50% of medical billers in the workforce today don't understand ICD-10 well enough to collect good revenue for their employers. That is a high percentage of people not knowing what they are doing.
Today, doctors are depending on you to get them good revenue. A medical practice often loses 20 to 30% of their claims. This is mostly due to the fact that the paperwork is filled out incorrectly. If you do electronic medical billing, it is important to follow all of the steps properly. Talk to your boss about getting new and updated software. You will find that ICD-9 software is a lot different than ICD-10. In ICD-10, the codes tend to be longer and you need to document progress for the patient. Remember, it is all about truth and honesty in today's billing world. Gone are the days where people did whatever they wanted to.
Today, medical billers are being asked serious questions by insurance companies. Most insurance companies are asking the question, "Is this medically necessary?" This is a word that is commonly used now and it should be second nature to you. Gone are the days that you can send an insurance company multiple claims for blood work. If the patient really didn't need that many blood draws, then the insurance company will most likely deny your claim.
Many people think that the medical billing industry is changing. It is important to understand that medical billing changes as each day passes. We can see that billing moves us ahead of our times because it's always changing. It is exciting to know that medical billing is only going to become more complex. I find it exciting because you don't have to be bored at work. You need to figure out and focus on what is most important. It is important to put all of the pieces to the puzzle together. Most people wonder what is happening in the billing world today.
Insurance companies today are looking for any way that they can reject your claim due to your own errors. The truth of the matter is that it's going to be harder to get checks from the insurance companies in a timely fashion. Most companies will suffer because there are not enough medical billers in the world today. It is estimated that 50% of medical billers in the workforce today don't understand ICD-10 well enough to collect good revenue for their employers. That is a high percentage of people not knowing what they are doing.
Today, doctors are depending on you to get them good revenue. A medical practice often loses 20 to 30% of their claims. This is mostly due to the fact that the paperwork is filled out incorrectly. If you do electronic medical billing, it is important to follow all of the steps properly. Talk to your boss about getting new and updated software. You will find that ICD-9 software is a lot different than ICD-10. In ICD-10, the codes tend to be longer and you need to document progress for the patient. Remember, it is all about truth and honesty in today's billing world. Gone are the days where people did whatever they wanted to.
Today, medical billers are being asked serious questions by insurance companies. Most insurance companies are asking the question, "Is this medically necessary?" This is a word that is commonly used now and it should be second nature to you. Gone are the days that you can send an insurance company multiple claims for blood work. If the patient really didn't need that many blood draws, then the insurance company will most likely deny your claim.
About the Author:
Our organization does ems medical billing, hospital and rehab ICD-10 coding also. If you are looking for someone that understands a lot about utilization management, come to our website today at ems medical billing. We answer questions for our clients wanting to know how they can get higher returns on their investment. We teach our clients how to get higher revenues also.
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