Outsource Medical Coding Services: A Smart Way to Ensure Better ROI

You may have seen that the entire healthcare domain in the US is going through a major staffing shortage. Today, the majority of hospitals, clinics, and also medical practices find it challenging to improve their patient care as they do not have trained professionals.  

You are familiar with the term “Great Resignation” right? It happened in 2022 when millions of employees across different industries in the US resigned from their jobs. Though the exact phase is over, the US healthcare system is going through a similar staffing issue.  

The global medical coding market will grow to $55.14 billion by 2034. This growth is driven by factors such as aging populations, and also the increasing digitization of healthcare records. But the issue the providers face is that they do not have staff who have knowledge of coding, and the staff do not have enough time to learn about it. So, what is the solution? 

The solution is to outsource medical coding services that can take care of all your coding-related tasks so that you can focus on improving your patient care. But the most important question is- how do the medical coders help to increase your ROI? So, let’s uncover this step-by-step.  

Top Reasons to Outsource Medical Coding Services

•   Cost savings: The coding regulations are constantly changing, and it is becoming difficult for the providers to manage. Moreover, the CPT, ICD, and HCPCS codes are highly complex which leads to coding errors. There are very few healthcare in-house teams who have in-depth knowledge of all the coding regulations, but they are very costly to hire. So that is where the help of the coding services come in who have specialized experts knowing all the complex coding nuances, and they also come with a very low cost which is also a reason to hire them.  

• Getting help with prior authorization: Do you know which is more challenging than coding? It is solving the complex prior authorization procedure. Moreover, if healthcare resources spend a lot of time-solving the prior authorization process, then they will not get the time to improve their patient care. So that is one of the major reasons to outsource medical coding services who know about solving all the complex nuances of prior authorization, thereby streamlining the claim submission.  

• Utilizing advanced technology: Manual coding is not only a labor-intensive process but also it takes a lot of time for the healthcare resources to manually solve all the coding errors, which refrains them from providing quality patient care. So that is where the help of a coding company comes in that utilizes technologies like Computer-Assisted Coding (CAC) and, they have the knowledge of working with the clinic’s Electronic Health System (EHR) to make sure that no coding errors occur. Hence, your claim submission gets streamlined which will lead to an increase in ROI.  

• Providing dedicated service: The healthcare staff takes care of almost all the healthcare operations, so that is why they do not get enough time to solve all the coding-related issues, which leads to claim denials. On the other hand, coding companies provide dedicated resources that only cater to solving all your coding-related issues. Hence, the providers can focus their time on improving patient care.  

Final Thoughts  

Finally, it can be stated that there are numerous complexities of coding that the providers do not have knowledge of which leads to claim denials. Apart from that, they also do not have time to learn about new technologies to streamline the coding process.  

 That is why it can be a feasible option to outsource medical coding services who will take care of all your coding-related needs with their specialized staff and advanced technology. So, stop focusing on your administrative tasks and start focusing on improving your patient care with the help of coding services.