Medical Coding Services
In the healthcare industry revenue cycle is dependent on medical billing and medical coding for its smooth and efficient functioning. Medical coding is aimed at creating codes for various diagnoses and procedures. The aim is to ease the process of billing and reimbursement. Medical coding companies are known to provide coding services that are cost-effective.
What is Medical Coding?
Medical Coding refers to the process of assigning codes to a specific set of information in the patient data. This information includes all medical services like diagnosis, procedures, patient services, etc. After the medical coder has assigned codes to the available information, it is time to share it with the biller. The biller then charges the insurance payer for the medical services received by the patient.
It is important to note that any error in medical coding can lead to denials. It is, therefore, the medical coding companies that provide you with a trained coder. A medical coder is trained to assign codes for the relevant information. He/she knows that only the information available within patient data is of utmost importance. Any information available outside patient data is irrelevant. This helps in preventing any discrepancies and denials during the time of reimbursement, thus making medical coding services more reliable and efficient.
Why avail Medical Coding Services?
Medical coding is necessary for the healthcare industry for the following reasons:
- Valid but Simplified Medical Records: Medical coding services help the healthcare provider to create a valid record of his/her patient’s medical history. The data is carefully coded for all the possible diagnoses, injuries, procedures, treatments, and patient services in the patient's medical record. This helps in creating a simplified and concise medical record that provides quick insight into patient's medical issues.
- Uniform and Accurate Documentation of Diseases: Preparing a patient's medical record is one thing, but maintaining the uniform documentation of diseases and procedures is another thing. Uniform documentation help in easy and accurate classification of diseases, injuries, medical procedures, etc. The medical coding companies provide the best medical coder who is aware of all the latest medical codes that are being used across healthcare institutes.
- Prevention of Denials and Rejection: Medical coding services help in accurate and error-free medical coding to prevent any denial or rejection of insurance claims. The biller prepares the bill based on the data provided by the coder. The insurance payer is billed for the doctor’s medical services as per the coded information. This eliminates any chance or risk of insurance fraud.
- Easy, Efficient and Effective Billing: Medical coding companies offer you the best coding services to help you with revenue generation. As a healthcare provider, your focus remains only on increasing your productivity and not worrying about your service charges. Availing medical coding services is one way to ensure productivity at two levels—patient care and revenue generation.
Types of Medical Codes
The three types of widely used medical codes in the healthcare industry are:
- ICD (International Classification of Diseases): This is a diagnostic code given by the World Health Organization (WHO) in the 1940s to assign uniform codes to diseases.
- CPT (Current Procedure Terminology): This code was given by the American Medical Association (AMA) to assign uniform codes to medical procedures.
- HCPCS (Healthcare Common Procedure Coding System): Another procedure code given by AMA to cover procedures, equipment, and services that aren't covered in CPT.
A trained coder provided by the medical coding services company is aware of the revisions done in the above mentioned medical codes. Therefore, healthcare providers can trust the medical coding companies for their expertise and professionalism.