Published: 2016-01-05   Views: 390
Author: medicalbilling
Published in: Insurance
ICD-10: The Codes That Are Causing Medical Billing Experts To Head Back To School

If you thought calculus and science were hard, you are about to encounter something tougher.  The codes of ICD-10 are becoming familiar to those that work in the medical billing services field.  These codes replaced ICD-9 on October 1, 2015.  The major difference with these codes are that you must know around five times more than you did before. ICD-9 had only around 14,000 codes. ICD-10 has around 69,000. That is a huge whopper of a difference.

Many doctors’ offices around the world are seeing slower payments and less money.  Many doctors are asking why? If they are performing the services for their patients, then shouldn’t they be able to collect on their services rendered by insurance companies? The answer to this question is yes and no. The reason for this is because with ICD-10, you must document more in detail as to why you are performing a procedure. If the procedure is ongoing, you must document progress as well. Many physicians are leaving their practices because these codes are so hard to master.  Most physicians will not be earning as much money as they did before in the past. Insurance companies have gotten tougher on who gets paid and for what reason. 

The best way of collecting on payments now is to hire a certified biller. These billers don’t come cheap.  You must go through rigorous training in order to get certified. Even men and women with master’s degrees in coding are having a difficult time with ICD-10.  It is because you must really know your coding now.  What worked in the past does not work anymore? It is all about moving along and making your situation work out.  You have to try and help yourself to get to the next level. You need to work with coders that truly know what they are doing.  It doesn’t matter if you take these courses in the UK or in the USA.  The system is the same worldwide for most countries. 

If you worked using ICD-9, you most likely only had to work hard in order to gain knowledge.  Now, there is much more that you have to know than just hands on experience.  The insurance companies have made it so hard to learn these codes that many medical practices have decided to outsource their work.  Using the new codes means that you must also purchase new expensive software.  Are you asking yourself why?  It is mainly because the new codes are often longer than before.  This means that they will not fit in your present software.  This gets costly when you think about it.

You can major in medical billing in college.  Universities teach courses on this at the master’s degree level.  The more complex the industry gets, the harder that it will be for you to see success.  Cities that are hardest hit are New York, New Jersey and Parts of Europe.  The reason for this is that doctors cannot find enough qualified coders to fulfill the demands of their practices.

 

 

Author Bio

I have a full time medical billing services business. I enjoy helping people with their questions about healthcare and writing. I have been writing since I was about 15 years old. I enjoy book editing as well. My hobbies are bowling, hockey and hanging out with friends. I also love to eat out at Italian restaurants.  My goal in life is to become the best friend that anyone can ask for and to help people with their own spiritual growth.

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