Billers and Coders Digest
News, Views and more....

Wednesday May 22, 2013 | Edition 1.30

Subscribe to our Free Newsletter
A monthly update on Billing and Coding Information
Complexity in Medical Billing and Coding enhances Career Growth for Billers & Coders!
If your perception of Medical Billing & Coding is that is has become increasingly complex then you observation is precise. Currently healthcare providers need to put in great efforts to procure even a miniscule increase in their income, also losing out on valuable time which can be spent on patient care. Varied tasks have led numerous medical industries and health care centers to provide diverse and varied career opportunities to medical coders & billers.
Industry Standards State
Career of medical billers and coders is projected to grow with-
  • Employment estimated to increase by 20% by 2018
  • Increased opportunities expected as people retire or leave the profession
  • Increased tests, treatments, and procedures due to an aging population
  • Increased responsibilities associated with electronic health records

Which changes are expected in medical billing & coding?
  • ICD-9 code sets will be replaced by ICD-10 code sets on October 1, 2014
  • Transaction standards 4010/4010A need to have been upgraded to Version... Read More..
How can Medical Billers and Coders help physicians accurately assess vendors for ICD-10 implementation?
Healthcare practitioners cannot underestimate the importance of vendors, as vendors are key partners who can assist in ICD-10 transition.
The products and services currently used will become obsolete ...
Read More
News Feed
Bureau of Labor Statistics (BLS) estimates an annual increase of 14.4% in health care office and administrative support occupations. While they do not particularly classify medical billing professionals, they expect a 20.9% increase in those performing bookkeeping and accounting functions and a 21.5% increase in general office clerical functions -which is close to what comprises the medical billing employment tasks.
CMS Updates
1 Proposed Fiscal Year 2014 Payment and Policy Changes for Medicare Inpatient Rehabilitation... Read More
2 Obama Administration simplifies, significantly shortens application for health insurance... Read More
Specialized Knowledge required by Medical Biller and Coder
Few essentials the medical biller needs to be aware about are–
  • Different types of Insurance contracts
  • Reading and interpreting Explanation of Benefits (EOB’s)
  • Electronic Remittance Advice (ERA’s)
  • Guidelines and Regulations
  • Following up with Insurance companies
  • Managing of Accounts Receivables
  • Claim Appeals
  • Explaining patient statements and balances

The Medical Coder needs to be well trained about the unique requirements of coding and medical terminology to be able to interpret the physicians’ notes accurately, assign the proper diagnosis and CPT codes, along with modifiers when required. To perform both these tasks simultaneously for a busy practice requires the right experience and training; as they are the key to a medical practice being profitable

Visit Job Board…

Toll Free Number - 888 357 3226
All Rights Reserved. Copyright @ 2012 MBC www.medicalbillersandcoders.com