To avoid the expected 40 percent drop in productivity after the ICD-10 implementation, coders should take note of several important measures of time and cash flow and establish their normal amount of time to code a claim, according to Phys Biz Tech.
Start tracking key metrics to have a point of comparison post ICD-10. Coders should take note of how long it takes to correctly code a claim, get it to the payor and get payors to answer coding questions, according to the report.
Also, monitoring cash flow in addition to productivity can bring to light issues that delay reimbursements. Practices should now also be tracking the number of days a claim is in accounts receivable, the denial rates, the amount of reimbursements that are denied and how closely reimbursements match contracted rates.
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Start tracking key metrics to have a point of comparison post ICD-10. Coders should take note of how long it takes to correctly code a claim, get it to the payor and get payors to answer coding questions, according to the report.
Also, monitoring cash flow in addition to productivity can bring to light issues that delay reimbursements. Practices should now also be tracking the number of days a claim is in accounts receivable, the denial rates, the amount of reimbursements that are denied and how closely reimbursements match contracted rates.
More Articles on Coding, Billing and Collections:
What EFTs Mean to Healthcare Providers
Shasta Medical Center Stops Billing Medicare for Rare Nutritional Condition
'Cash-Only' Oklahoma Surgery Center Attracts Nationwide Attention