By now, you’re probably well-acquainted with President Obama’s plan to revolutionize America’s healthcare system by requiring the digitization of all medical records by the year 2014. But what does all this actually mean for the billing and coding professionals who will be most affected by the changes?
To begin, the nation’s outdated coding system is in for a complete overhaul. ICD-10, based on a system developed by the World Health Organization in 1977, will be the new standard in coding, and it will have plenty of implications for coders and billers alike. For instance, the ICD-10 has nearly ten times as many codes as the existing system – from 17,000 to a whopping 155,000. While a greater number of codes will allow for more accuracy in bills over the long run, initial confusion is expected to lead to an increase in billing and coding errors, which will in turn lead to a delay in payment for many healthcare professionals.
In order to keep up with the changes, coders and billers must commit to educating themselves about the changes. Physicians’ offices and hospitals may wish to outsource their billing practices to professionals who will be well-versed in the new procedures, in order to minimize the risk of mistakes and errors.
