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Summary
To a layperson, medical codes look like a different language, and in a way they are. Understanding a clinical encounter is extremely important for patient care and for keeping the doors open. In fact, a survey of hospital executives found that about a third cite coding as their top concern when it comes to denials and denials prevention. Organizations are also trying to implement medical coding best practices with fewer coders and revenue cycle staff. “We’ve experienced hiring challenges for billing and coding positions, especially in the wake of COVID-19,” Wilke says. “ With a kick-out ratio of under 20 percent, Wilke describes AI technology for medical billing and coding as “a bit of an equalizer” when it comes to the workforce obstacles most healthcare organizations are currently facing, according to Wilke. “They were nimble, easy to work with, and pretty aggressive and forward with making sure things got connected as fast as possible.
Show Notes
However, in a world of ever-changing payer rules and documentation requirements, medical coding is perhaps more complex than ever.
Payers may reject or deny claims because of medical coding errors or missteps.
With denial rates on the rise, optimizing medical coding to prevent claims denials is critical.
Many healthcare organizations choose to offshore medical coding to combat domestic staffing shortages and the high costs of filling open roles.
And despite some pains, AI in healthcare is only growing, especially in the realm of medical billing and coding.
