Spending with healthcare is anywhere between 7.5%. Increase of operational costs increases the complexity of a healthcare provider. Administrative costs, currently sit at 16% and 12% in England and Canada respectively. Nearly, 25% of all US hospital spending consists of administrative costs, including the salaries for the staffs that handle medical coding and billing.
Computer assisted coding (CAC) used to interpret text based clinical documentation from the patient charts. It identifies potentially relevant ICD-10 CMS diagnoses, ICD-10 PCS and CPT procedures, present on indicators on POA to provide the suggested codes and the corresponding documentation for the coders and the CDI specialists to approve and review is one of the possible trends in medical coding services.
The use of technology: A risk or a boon for a medical coder
According to a Care-cloud report, medical coding specialists are seriously afraid that built in CAC with the EMR can seriously challenge their jobs within a decade. Hence, it is quite largely overblown and with a quality human intervention, it is going to be a huge help for the medical coders. One of the studies clearly illustrated that CAC increased productivity by over 20%, reducing the coding time by almost 22%, all without reducing their accuracy.
Already, healthcare providers spend a lot of time looking for the diagnostic codes rather than look and listening to the patients. Poor record keeping standards, ability of not capturing the right data can be resolved greatly with the process moving much faster. If the EMR successfully integrates with the CAC, it will automatically populate the demographic patient data; reduce wastage of time with fewer errors. It can improve data abstraction greatly leading to a robust reporting process than a standalone EMR billing and coding software.
Improving the standards and security of patient data, better privacy protection provisions, helping in a better exchange of information easier and efficient with better health exchanges, reducing fraud in billing and claims all boils down to improving healthcare revenue cycle management priorities.
The Sunknowledge edge in medical coding
Standing at a unique advantage of working with both healthcare payers and providers, Sunknowledge Services Inc is a complete healthcare RCM company. We have defined cash flow for leading clients in the healthcare space. Presently, we have an expert pool of medical coders who are ready to provide dedicated support at $7 per hour with seamless communication standards. Leverage the Sunknowledge opportunity in medical coding and earn a partner that offers stand out assistance.