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How to Fill Your Gap in Medical Coding Expertise, and Thrive

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How to Fill Your Gap in Medical Coding Expertise, and Thrive

A Day in the Life of a Medical Coder

While each medical coder may approach their day differently, they must all have one characteristic in common to be successful – scrupulous attention to detail and accuracy.

Like most professionals who work at desk jobs, a medical coder’s typical day includes email and checking for any updates or issues that may have arisen since the previous day. Given the highly regulated nature of their work, they must also note any policy changes that impact billing. After the initial email scan, they likely start reviewing patient records and charges to gather the right information about various diagnoses, procedures, and treatments provided during a visit or hospitalization, followed by assigning codes, processing claims, checking errors, following up, and dealing with insurance denials. The latter part of the day may involve communications with doctor’s offices, medical facilities, or patients to resolve any coding or billing discrepancies. Before signing off, they create detailed reports documenting the progress of claims and outstanding payments.

A Profession in High Demand, with a Significant Shortage

With their keen attention to detail, analytical skills, and communications prowess, billers and coders are in high demand across the country. These professionals also gather invaluable data that bolsters research and quality improvement initiatives. Unfortunately, the American Medical Association reports a 30 percent gap in medical coders, with the U.S. Bureau of Labor Statistics simultaneously projecting the demand for medical coders to grow 9 percent by 2033.1, 2

This shortage of medical billers and coders is leading to delayed claim submissions, more errors, and reduced reimbursement – all of which make it exceedingly difficult to maintain healthy revenue cycles. Paired with outside forces impacting revenue cycle management such as constant regulatory changes, economic conditions, payer policies, and technological advancements, the need to successfully fill the medical billing and coding gap becomes even more urgent.

An Urgent Need for Trusted RCM Partners

A trusted medical billing partner can provide practices with solutions to many of the problems brought on by these staffing shortages. For example:

  • Ever-Changing Medical Codes: Constant updates and changes to ICD-10 and CPT codes create confusion and increase the likelihood of errors.
    • SOLUTION: Med USA is always looking around the corner for upcoming coding updates so you aren’t caught unprepared, followed by counseling on how to implement these changes without disrupting your workflow.
  • High Volume and Tight Deadlines: Pressure to meet deadlines while maintaining accuracy leads to mistakes, a slower claims process, and burnout.
    • SOLUTION: Coding changes are an administrative hurdle in every specialty. Med USA can help your team keep up with these changes to prevent costly miscoding mistakes.
  • Frequent Regulatory Changes: Medicare, Medicaid, and private insurance policies change frequently. Keeping up with those shifts is time-consuming, challenging, and – most importantly – can lead to non-compliance penalties, reimbursement delays, and possibly legal ramifications.
    • SOLUTION: Partner with Med USA to keep up with regulatory updates, mitigate risk with proper staff training and certification, and adapt billing practices to fit new requirements.
  • Claim Denials and Appeals: It takes time to investigate insurance claim denials and address them by resubmitting claims and filing appeals.
    • SOLUTION: With a structured approach to tracking, analyzing, and correcting the root causes of denials, Med USA can help you sustain financial performance.
  • Inconsistency: Turnover on billing teams not only makes it difficult to keep pace with billing demands, but it’s nearly impossible to stay on top of regulatory and coding changes if the team is barely staying on top of regular billing timelines.
    • SOLUTION: Med USA will process your bills consistently, and on time, no matter what your staffing situation might look like.

While the medical billing and coding shortage rages on, coding expertise remains more paramount than ever due to the U.S. healthcare industry’s inherent focus on accuracy, timeliness, and efficiency. By outsourcing with an RCM partner, practices can not only survive this tumultuous time in medical billing but actually thrive by putting systems in place that ensure they’re staying ahead of internal workflows as well as outside pressures.

In fact, many practices that partner with Med USA emerge even better than before – financially and operationally.

Schedule a discovery call today to learn how Med USA can help you navigate billing and coding challenges.


Sources:

  1. Medical Records and Health Information Technicians: Occupational Outlook Handbook: U.S. Bureau of Labor Statistics. (2019, April 12). Bls.gov. https://www.bls.gov/ooh/healthcare/medical-records-and-health-information-technicians.htm
  2. Lubell, J. (2023, April 19). Addressing another health care shortage: medical coders. American Medical Association. https://www.ama-assn.org/about/leadership/addressing-another-health-care-shortage-medical-coders