The diagnosis Code ICD -10 CM (International Classification of Diseases 10th Revision Clinical Modification) is the crucial part of Medical Coding which can affect the financial aspect of the claim if not documented appropriately. Assigning accurate codes requires the physician to provide complete and accurate clinical documentation of the procedure, however with the regular update of Medical Codes and the ever-changing coding guidelines Coding accuracy and quality can seem to be a question. With Coding Audit Services in place can eliminate such gaps and provide overall improvement.
Auditing Services can be beneficial to eliminate repeated coding errors and help achieve quality coding promoting overall growth for the RCM process and financial status of the Medical Practice. Let us see how ICD 10 – Auditing can improve reimbursements.
Quality Coding with reduced denials: Coding errors can be the major reason for claim denials or low payments depriving from the due payments to be received. With regular Auditing services in place, practices can ensure quality coding and due reimbursements are achieved.
Identify Denial Reasons and Curb Repetition: Regular Audit does not only reduce denials and ensure maximum collections, but it is also mandatory to identify the root cause of Denials and fix them at once. In most cases, the denials are because of following outdated codes or guidelines. Audits analyze the root cause to curb them from recurrence.
Efficient RCM Process: Coding Audit does not only turn to be beneficial for identifying errors in Medical Coding but also to correct them and prevent further misses in the other scope of services, thereby building an efficient RCM process.
With the Implementation of ICD-10-CM in 2015 and with the ongoing COVID 19 there has been a lot of code-related changes and updates by CMS and AAPC to regulate the Medical Codes and guidelines to be on par with the current demand. With these back-to-back changes and updates, even the highly skilled and experienced coders are prone to err affecting the coding quality percentage. However, having a streamlined Auditing process in place can eliminate Coding Gaps and improve reimbursement.
While having an audit team has become the basic requirement, it can mean an additional cost and effort for physicians and practices however outsourcing can be the best choice for quality and cost-effective auditing services. An outsourced team of coding auditors has specialty-based coding knowledge to handle complete auditing services while maintaining the standard internal and external quality percentage ensuring maximum collections and increased first-pass rate.
About MGSI
MGSI is a national Medical Billing Company located in Tampa, FL. With over 25 years in the healthcare industry providing complete Revenue Cycle Management Services to more than 600 physicians across the country MGSI offers high-quality coding and auditing services with skilled and AAPC Certified coders. To know more about MGSI and ICD-10 Auditing services call 1-877-896-6474 or log on to www.mgsionline.com