10 Reasons Why You Should Outsource Your Medical Coding- Reason 6 of 10: Accelerate Cash Flow
As ICD-10 implementation draws near, the shortage of qualified medical coders will only become more acute. Outsourcing your medical coding is a solution that fits the needs of large hospital groups, standalone hospitals, large and small physician groups, and other healthcare organizations. It can result in zero coding backlogs, guaranteed quality, reduced cost, and no worries about coding resources or shortage-driven cost increases.
Over the next several weeks, we’ll offer you the top 10 reasons why outsourcing makes sense for your organization.
Reason #6 of 10: Accelerate Cash Flow
Recent estimates suggest the United States currently has 30 percent fewer medical coders than needed. Combine this shortage with the productivity losses created by ICD-10, and the result is a ‘perfect storm’of lost time and revenue, as well as denied claims due to incomplete or inaccurate coding.
Complete and accurate medical coding requires the coder to be thoughtful and take the time to thoroughly review the record and coding guidelines as necessary to assure the coding captures all services provided. Conversion from current ICD-9 to the upcoming ICD-10 coding system (expected to take place in October 2015) leaves providers in a costly position. A backlog of medical records needing to be coded may result in less revenue as the coders are caught between the goal of complete and accurate coding, the need to reduce the backlog, and the expectation to learn the new ICD-10 coding guidelines at the same time.
Multiple coding sites enable us to code while you sleep. With our help, your organization essentially codes 24 hours a day. Our outsourced coding teams code overnight while your on-site medical staff codes during regular business hours. With our extensive network of highly-trained medical coders, we can provide you with cost-effective coding resources to ensure accurate and prompt payment. Our goal is to improve the bottom line for our customers. Your success is our success.
With an abundance of medical coders, outsource coding with Ovation RCS is a solution that fits the needs of large hospital groups, standalone hospitals, large and small physician groups, and other healthcare organizations. It can result in zero coding backlogs, guaranteed quality, reduced cost, and no worries about coding resources or shortage-driven cost increases.
To learn more about Ovation Revenue Cycle Services’ Comprehensive Coding Services, visit www.ovationrcs.com.
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