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Monday October 29, 2012
How to retain your coders & revenue in 2013?
The upcoming ICD-10 in 2014– clearly reflects the importance of retaining coders in 2013; with the ICD-10 mandate initially bound to disrupt existing healthcare operations & eventual revenue procurement!
Industry Standards
Approx. 30 % of organizations In the following 3 years ICD 10 will have a negative or strongly negative impact on them
Nearly 41% of healthcare technology leaders Anticipate adverse impacts from changes required by ICD 10
Hence retaining coders & revenue becomes an imperative step for the physicians
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Industry Challenges while retaining coders
  • Average job growth to rise 20% by 2018 along with an increase in shortage of coders
  • AAPC - 28% of members above 50 years; only 5% below 25 years –an inevitable gap of coders soon
Industry challenges on revenue & billing
  • Revenue impacted due to the CMS Recovery Audit Contractor (RAC) Program
  • Billing issues are also poised to increase as the aging population grows and more individuals move to government-supported programs
Avenues to improve Coder Retention & Revenue:
  • Involving coders in the ICD-10 transition
  • Evaluating the coding team’s strength
  • Working with the coding team while setting up training
  • Additional support systems for coders to ensure appropriate quality control measures
  • Organizations can create new staffing models
  • Recognition for work well done
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Physicians short of time may benefit by appointing a billing service to increase their revenues
Retain your revenue with MBC’s Billers & Coders
MBC‘s billing experts are already preparing for the challenges to ensure optimum revenue by:
  • Constantly updating themselves about  technological changes
  • Getting awareness regarding mapping between ICD-9 and ICD-10 codes
  • Interacting with varied healthcare providers, to ensure compliance under ICD-10
  • Awareness regarding a dual reporting system to avoid denials due to ICD-10
  • Constant training regarding all upcoming codes & changes

MBC assisting physicians in revenue maximization for over a decade now; across all 50 US States & varied specialties

MBC’S ICD-10 training + Regular industry updates + Constant Training + Billing Experts

  =

Organizations Increased Profits

+ Retention of
Revenue flow
   
 

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