Hiring a medical coding services company to take care of your practice’s coding needs can be a game changer for your business. Such third-party coding service providers completely take over the coding process and ensure claims are sent to the payers on time and in the right format.
If you are considering hiring a medical coding services company for your company’s needs, here are some of the services you may expect from it. Depending on the time and size of the service provider, some or all of these services may be offered.
1. ICT, CPT, and HCPCS coding
The first and the most basic requirement from a medical coding services company is to help you with ICT, CPT, and HCPCS coding. Coding is the process of converting medical records and service bills into pieces of code that the payers understand and use for processing.
Coding errors remain the biggest and most significant cause of payer denials. Precise and knowledgeable use of all these three kinds of codes will help bring down the rate of denials significantly.
2. Coding audits
Merely producing codes isn’t enough in today’s scenario. The medical coding services company must try to know what percentage of the denials are coding-related and come back to the table to identify root cause problems and eliminate them. This process of checking the efficiency of the coding process regularly is called auditing.
Coding teams need to be audited by both internal teams and external teams to stay on top of their games.
3. Technological support
Technology is everywhere now, and that’s true with medical coding, too. The medical coding services company that you choose to work with must be technically adaptive. This means using tools and software to automate coding, making coders more effective by offering them assistive tools, and generally making the process of coding quicker and easier.
Artificial Intelligence (AI), for instance, is one such tool that top coding companies all over the world are exploring right now. with AI, your coding team may be able to intelligently automate codes and catch problems at the early stages, before they affect the reimbursements.
4. Customized coding services
Different payers have different specifications when it comes to coding, and the medical coding services company must be flexible enough to adapt to different such services based on the payers. This is important if you want to be a provider who accepts different insurance providers and their coverage.
5. Coding training
Yes. Coding training is also one of the services that a medical coding services company could offer, and this is a great service when you think about it. Let’s say you are a provider who has a small in-house billing and coding team and decide to outsource to handle a higher work load.
When the coding company offers regular training and learning sessions for its internal team and for the clients, this means your coders get to learn in the process too. You can also be sure that the coders who work on your claims are updated with the latest coding knowledge. This is a win-win situation.
Conclusion
A medical coding services company can help increase the number of claims that get fully reimbursed and decrease the rate of denials by ensuring the right charges are captured and converted into the right codes. Making use of their services is a strategic advantage that healthcare providers must make use of.
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