Medical Coding and Billing are the most important tasks that have to be carried on accurately. Any amount of profit or loss obtained affects the entire revenue system. It is thus important that these results are accurate. A minor mistake in ills may result in a loss of about a thousand dollars. There are a few simple steps that will help prevent these errors.
1. Review the entire billing and coding process. Identify the places where errors occur quite often. Find out whether you are facing regular denials? Is the same payer who is passing the denials? Identify the main causes of errors and try to rectify them.
2. Provide proper training to your staff, ensuring they are updated with all the current updates in medical coding and legal regulations.
3. Communication plays a very important role in avoiding errors. The seniors should have a good and comfortable relationship with the juniors so that the juniors feel free to come up with doubts. Errors are usually a result of miscommunication.
4. It is important to submit monthly reports and other billing reviews on a regular basis. It may seem to be disturbing the physicians. But, irregular reports show irresponsibility in performing the tasks.
5. It is important to know the real cost of errors. This will give you a better idea of how your work will affect the revenue. One should keep a track of all the profit and loss that occurs in order to know what works best and what should be avoided.
The above simple steps will help prevent errors in medical bills. Thus, avoiding denials and increasing the overall revenue of the organization. It is thus important that medical billing companies should adopt better ways for medical coding and billing.
Medical billers/coder professionals are part of the medical world. They don’t perform any surgeries or have any patient, but their role in the medical field is quite vital. It’s the job of the medical biller to record and process patients’ information like treatments, bills, insurance and payment. When you get sick and visit a hospital, a medical coder will code your diagnosis and will request for payment from your insurance company. If in case you get sick and you don’t have medical cover then a medical coder is the right person to talk about how you can make payments for the medical bills as they can provide you the right information about alternative payment options and plans.
Skills Required for Medical Coding:
A medical coder’s job involves working with numbers and also pay attention to details. A coder’s work mainly includes administrative tasks like reviewing, processing, and submitting medical claims. If required, a medical coder can obtain the required information of a patient from a doctor. A medical coder also needs to communicate with insurance companies regarding queries on the claims. A medical biller should be comfortable working with computers and medical coding and billing softwares.
Want to be one?
The demand for medical coders/ billers is quite high in medical field and you can seriously consider it as a good career option. A high school diploma is all you need to become a medical coder however, if you want to have an advantage and want to grow further in this field, some form of formal training in medical coding/billing is your best option.
Medical billing and coding is a specialized field. A person applying for medical coder/ biller job must have knowledge of different coding system. The ideal way to get into medical coding/billing is to opt for a 2-year associate degree in medical billing and coding or a 4 -year degree course. If you have a degree in any other stream and want to opt for medical coder/ biller job then a certification from the American Medical Billing Association, a national recognized association related to medical billing and coding can help you improve your credentials.
So, how about the pay?
The yearly remuneration of medical billing and coding professional is around $45 thousand with $38,000 as the recorded low and $74,000 as the highest. However, the salary varies from the location and facility of your work place. The good news news is that even entry level salary for this job is quite high.