Question

what is the future of medical coding? Consider the following: (1) the rapid changes in technology, (2) new standards development, (3) value-based care and the cost-driven environment, and (4) the consumers' demand for information and quality.

Answer 1

ANSWER:

Medical coding is a key component of revenue cycle management. When done efficiently and accurately, it helps ensure hospitals are properly reimbursed for the services they provide.

The number of medical records and health information technicians, which includes medical coders, is projected to grow 13 percent between 2016 and 2026, according to the U.S. Bureau of Labor and Statistics. There were 206,300 such jobs in 2016, and 234,100 are projected for 2026. Not only are there a large number of job openings in coding and billing, many of these jobs are fairly lucrative.

The field of medical billing and coding is growing as a result of a number of factors, chief among them being an aging population, an increasing focus on health data and informatics, and the digitization of health records. As the health care system turns increasingly to electronic health records, billing and coding specialists who are computer-savvy will have a leg up on the rest of field.

The current international standard for medical coding is ICD-10 (the tenth version of International Classification of Disease codes), from the World Health Organization (WHO). ICD‑10 has over 14,000 codes for diagnoses. The next update to this international standard, ICD-11, has already been formally adopted by WHO member states in May 2019. WHO member states, including the US, will begin implementation of ICD-11 as of January 2022. The new ICD-11 has over 55,000 diagnostic codes, four times the number of diagnostic codes contained in the WHO’s ICD-10.

Each medical office has a specific lag time for coding reports. This lag time is typically two to five business days. That means that coders must complete their coding within five days of the procedure or doctor’s visit. Hitting these deadlines ensures that the billing and reimbursement process can move along smoothly. It’s the coder’s responsibility to manage these deadlines and work in a timely, efficient manner.

Medical coders don't have to have bachelors or master's degrees, but they must be well-versed when it comes to anatomy, physiology and medical terminology education

Computers softwares are now extremely efficient of eliminating coding errors such as medical coding.Medical coders may also audit and re-file appeals of insurance claim denials. Medical billers process and follow up on claims. So the consumer’s demands for information and quality can be provided efficiently.