How Do Medical Practices Maximize Revenue Cycle Management in Coding?

By Michelle Stahl, Owner, Physicians Billing Service

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How Do Medical Billers and Medical Coders Maximize Revenue for their Medical Practice?

Maximizing revenue cycle management in coding was an extremely well-attended topic at this year’s AAPC (American Academy of Professional Coders) Annual Conference in Orlando, Florida.

Author, Yvonne Dailey, CPC, CPC-I, summarized the findings in an excellent article published by the AAPC entitled “Revenue Cycle Management in Coding”.

The author notes that “every practice should be run like a business, from the moment the patient makes an appointment to the moment the claim is processed and paid to the provider. Everyone in your office plays a key role in the success of the revenue cycle: the receptionist, biller, coder, provider, and practice administrator. It’s important to understand how your role affects the revenue cycle.”

How Can Medical Billing and Coding Consulting Service Can Benefit Your Medical Practice’s Profitability?

As I often consult with Physicians, Medical Practices  and Medical Billers, I often note that the order in which claims are submitted, can vastly affect the revenue of one’s practice.    The author notes an example that demonstrates a +80% increase in revenue, when billing is conducted in the proper order:

Example of How to Maximize Medical Practice Revenue through Revenue Cycle Management in Medical Coding

 

 

 

 

 

The article summarizes several areas of  great importance:

  • Linking the “diagnosis codes to the proper CPT codes to meet medical necessity and get the claim paid”.
  • Never regarding medical billing “simply as data entry”.  “Each claim should be reviewed for accuracy and proper linkage between the diagnosis code and the correct CPT (Current Procedural Terminology) code”.
  • “Know how to read denial codes such as PR204 (Patient responsibility – other coverage), CO50 (Medical Necessity), and the proper steps to correct denials or rejections”.
  • ‘Know the timely guidelines for your carriers as well as the guidelines for submitting a corrected claim”.

In summary, the complexity of medical billing and medical collections remains daunting.  As a leading Medical Biller company, I would be glad to provide you with a complimentary consultation.  Since 1989, Physicians Billing Service has proudly earned an +A reputation for outstanding customer service and significantly increasing the cash flow & profitability of hundreds of medical practices.

To ready the full article by Yvonne Dailey, visit the AAPC web site.

At Physicians Billing Service, we proudly are able to support Physicians through-out Miami FLTampa FLNew York, NYNewark NJGeorgetown DC, Herndon VA, Lanham MD and Loudon County VA.  As a leading Medical Biller Company, we are unique in that we do not charge medical billing set-up fees and our incentives to perform are directly aligned with your medical practice’s cash flow and profitability.  For a complimentary consultation and to speak with Michelle Stahl, Owner of Physicians Billing Service, call 240.382.Bill (2455) or use our online contact form.

About Us

We are proud to support leading Physicians & Medical Practices through-out Florida, Maryland, Washington DC, Virginia, Pennsylvania, New Jersey & New York. Your commitment to excellence inspires us! Since 1989, Physicians Billing Service has been committed to excellence in Medical Billing & Collections.

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6035 Burke Center Parkway, Suite 390, Burke VA, 22015. Call (703) 978-0756. Fax: (703) 978-7762.
Contact Michelle Stahl, Owner