October 1, 2015 Introduced The New Medical Codes ICD-10
by Lonnie Greenfield
If you know anything about medical billing, you may agree that ICD-10 is difficult to master. Men and women from all over the world ask the question, "How am I ever going to learn all of these codes? You may not know it now, but there are around 69,000 codes used. In ICD-9, there were around 14,000. You must have a good mental outlook for how these codes have changed. It is important to think about getting certified in ICD-10. Your employer is going to look at what you know about the new coding and if you can get them a high return from the insurance companies.
A lot of coders today are asking themselves if they should go back to school or if they should go for their certification. What should they do in order to receive payments? It is a hard choice for a biller to make? In the 1980's and 1990's, you could easily take a stay at home course. You could get a job after studying coding for around 6 months. Now things are a lot more complex. Medical billers must now decide on the best course of action to learn this material.
The reason why doctors lose money most of the time is because of incorrect medical billing. In order to get a higher return from the insurance companies, someone must know billing like the back of their hand. They must know how to bill the insurance company correctly. The war between doctors and insurance companies are going to get worse. Insurance companies know how to win over the doctors and not pay them because they are not filling in the paperwork correctly. A medical doctor must find an experienced medical biller if they are ever going to make money for their practice. It has gotten so bad that many doctors are choosing to leave their practice and work instead for a hospital. At the end of the day, it all comes down to money.
The important functions of a medical biller today are that you need to be open to change. It is important for a medical biller to know a lot about anatomy and working directly with a medical doctor. Those that choose not to work alongside of a doctor say that they have no idea what is going on. This is mainly because you need to explain in detail why you are billing the insurance company to begin with. Under ICD-10, you must document as much information as you possibly can so that everyone is on the same page. The insurance companies want to know what the status is of the patient. Is there health improving or are they having to get more treatments. The important question that insurance companies are now asking is why? Why should I write your medical practice a check for $20,000? Why shouldn't it be $5,000? Does the patient really need all of the services that you are giving to them? Are you just trying to make more money off the insurance company? These are serious questions that insurance companies are asking today.
A lot of medical coders are finding themselves having to study for their master's degrees. Many universities are now offering master's degrees in medical billing. It takes years to master billing because there is a lot involved now. When Obamacare hit the market, it changed the health industry forever. It is causing many doctors to leave their practice and work for larger companies. The main reason for this is because they are at least guaranteed a certain salary each week. If they have their own practice, they have no idea what the insurance companies will pay them. How can a doctor pay their staff if they don't know how much money they will be getting back from the insurance companies? This is a question that many healthcare providers are asking themselves today.
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New Unique Article!
Title: October 1, 2015 Introduced The New Medical Codes ICD-10
Author: Lonnie Greenfield
Email: reflectionstreatments@gmail.com
Keywords: medical billing,medical billing service,medical billing services,health,health,financing
Word Count: 643
Category: Medicine
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