Billers and Coders Digest News, Views and more.... Thursday March 20, 2014 | Edition 1.90 Subscribe to our Free Newsletter A monthly update on Billing and Coding Information Billers & Coders expertise in claim analysis helps tackle escalating payer denials! Healthcare providers now need to be consistent in improving and measuring growth in nearly all areas of their practice. They are being challenged to process increased number of claims in an accurate manner. However they are left with no time to concentrate on claim processing errors that result in major financial losses. This has led to an increase in demand for certified and well-trained coders and billers who are experienced in claim analysis. Industry Facts State: The aggregate claim denial rate in the first quarter of 2010 was 19% In 2011, claims processing errors increased by 2%, resulting in unnecessary administrative costs worth $1.5 billion Annually, the US healthcare system wastes between $600 to $850 billion due to inefficiencies and errors On an average, mistakes can be found in 5-10% of all claims submitted According to AMA, approximately $17 billion can be saved annually by eliminating claim errors Claim denials are likely to increase with the implementation of ICD-10 in 2014; therefore, practices need to buckle up in order to ensure coding errors don’t cause claim denials Role of medical billers and coders in making claim analysis successful - Medical billers and coders can make use of their knowledge and experience to check for errors and denials in the claims process Read More Billers & Coders to help with HIM testing as the ICD-10 final date draws closer! Practices are investing time and money in end-to-end testing of ICD-10 transactions but not much attention is being paid towards Health information management (HIM) testing ... Read More News Feed 1 According to AARP, 200 million claims get rejected every year due to the lack of effective claim analysis procedure at practices 2 Jobs have increased for skilled coders and billers in 2014 as there is shortage of well-trained coders who can balance between coding and HIM testing CMS Updates 1 ICD-10 in 2014 Read More 2 New EHR Attestation Deadline for Eligible Professionals: March 31, 2014 Read More 3 Prepare for Upcoming eHealth Milestones with New eHealth Interactive Timeline Read More 4 Billers & Coders to help with ICD-10 Conversion at Hospitals Read More 5 Countdown to the ICD-10 Deadline begins! — Training for Billers & Coders Crucial now… Read More How can Billers and Coders make the most of upcoming job opportunities? Certified coders can become qualified to sit for American Health Information Management Association exam after gaining work experience. Passing this exam will give them better job opportunities Coders must obtain formal education or encourage physicians to conduct training sessions to get a good hold on medical terminologies, legal aspects of health information, classification convention, clinical documentation and computer-based data management Coders can join professional associations like AHIMA, HIMAA to gain more knowledge and exposure Visit Job Board… Toll Free Number - 888 357 3226 All Rights Reserved. Copyright @ 2014 MBC www.medicalbillersandcoders.com