A medical claim refers to the itemized statement of services and costs from a health care provider or facility that is submitted to the insured for payment. In Medical Billing and Coding parlance, claims processing is the overall activities and work which involve submitting and following up on the claims.
As you may already know, medical coding is the very important process of going about converting diagnosis codes to ICD-9 codes and procedure codes to CPT codes. Medical Coding also involves HCPC (pronounced “hick-pick”) codes that identified supplies and drugs for correct billing. The Code Certification credential is a way that distinguishes coders on the basis of their exhibiting commitment and demonstrating coding competencies. This is across all settings, including both hospitals and physician practices.
These days it seems that pretty much everything is evolving at break neck speed. The dawning of the technological age has spurred the wheels of invention and innovation like never before. Medical Billing is just one sector of business that is currently in the spotlight as medical professionals rush to remain current in the face of widespread changes in procedures and guidelines.
With the ICD-10 billing codes set to replace the old ICD-9 system on Oct. 1, now may be the best time ever to take a closer look at your offices’ billing procedures and discover ways to improve your practices’ billing efficiency. Your AR department will soon be busy catching up to all the new codes and regulations, so, why not make the job easier for them, and more profitable for you, by implementing a few of these strategies designed to maximize the efficiency of your billing department.
The official deadline for adopting the newly expanded ICD-10 is quickly approaching. By Oct. 1, 2015, medical offices will be required to adopt the expanded system of codes, or face the possibility of penalties, and delayed claims. Here at Health Care Partners, we are positioned to help you make this transition as smoothly as possible by providing important information and tools you need to make the leap.
The more comprehensive ICD-10 is designed to accommodate future expansions as well.
With more than 55,000 additional new codes the ICD-10 system is essentially a more complete medical language that will be used to collect and compare medical information from around the world. Over 100 countries utilize this uniformed system of codes to report mortality rates, as well as to track research and health trends.
Is someone suffering from a sea lion bite? There’s a code for that: W5611XD. Did an individual experience an injury at the opera? Try code Y92253.
You’ll find these and more in ICD-10. However, it’s more than just a catch-all for the bizarre and wacky. ICD-10 contains more descriptive versions of commonly used codes – a significant improvement from
ICD-9’s more outdated and inconsistent counterparts. ICD-10 contains over 69,000 codes, compared to ICD-9’s 14,000.
July 28, 2015 | Michelle A. Leppert
You might remember that CMS struck a deal with the American Medical Association (AMA) to get AMA on board with ICD-10. For the first year of ICD-10 use, CMS will not deny or audit claims based solely on the specificity of diagnosis codes, as long as the codes on such claims are from the correct family of codes.
- Affordable Care Act
- Benefits of Outsourcing
- Claims Processing
- Health Plan Patients
- ICD 9/ ICD 10
- Insurance Benefits
- Medical Billing
- Medical Billing Careers
- medical claims
- Medical Coding
- Physician Practice Management
- Practice Management
- Psychology Billing
- Revenue Cycle Management
- Sleep Apnea