Understanding that Medical Coding is Vital to Your Revenue Cycle Will Save Your Practice
Medical coding services take a doctor-patient visit and translate it into the language healthcare providers use for claim submissions and reimbursement.
Medical billing and medical coding are different things, but both are needed to receive payment for the healthcare services your practice provides.
Understanding Medical Coding for Your Practice
Understanding medical billing and coding will help your business grow. Medical coding involves taking billable information from the patient’s medical record and any clinical documentation. Medical billing takes those codes and uses them to create insurance claims and bills, so that you get paid.
A medical billing and coding cycle can last anywhere from a few days to several months, depending on the level of complexity, claim denials and how your organization’s billing practices.
Understanding medical billing and coding practices can help you and your staff optimize your revenue cycle and recoup reimbursement.
What is Medical Coding for Medical Practices?
Medical coding begins with a patient visit. When a visit occurs, the provider details the visit or service provided in the patient’s medical record and includes an explanation of why they provided specific services, procedures or items.
Accuracy and complete documentation during visits is critical for proper medical billing and coding.
Healthcare providers use clinical documentation to qualify reimbursements to payers if a conflict with a claim arises. If a physician doesn’t sufficiently document a service in the medical record, the practice could face a claim denial. Too many of those situations could kill your practice.
In addition to denying your claim, you could be subject to a healthcare fraud or liability investigation if you attempt to bill payers and patients for services that are incorrectly documented in a medical record or is missing from the patient’s files altogether.
Once you discharge a patient from a hospital or they leave your medical office, a professional medical coder will review and analyze clinical documentation to match services with billing codes related to the diagnosis, procedure, charge and professional code.
Medical coding is incredibly complex and can cause real ramifications for your medical practice if not done properly.
Parasol Medical Billing provides medical coding services to help medical practices stay out of trouble and grow their business. Contact us today to learn more about our medical coding services.