In the coding world, there is a saying that “If it isn’t documented, it doesn’t exist or it didn’t happen.” That strikes fear in the hearts of all physicians, which is why it’s imperative your medical practice billing and coding be tied to your medical practice revenue cycle management and the coding expertise of your physician billing and coding team.

There are more than 68,000 new ICD-10-CM diagnosis and procedure codes that will go into effect beginning Oct. 1, 2014. Compare that to the 18,000 codes in ICD-9, and you have a major coding conversion that has been slated to be the most significant overhaul of the medical coding system since computers were introduced. Note the structural changes of each code too, with many of them now defining the site, etiology and manifestation or state of the disease or condition.

This new medical practice billing structure requires physicians and coders to collect more data on patients and provide the added documentation that justifies codes submitted for claims. Hence, a direct connection to your revenue cycle and practice bottom line.

Changes and their corresponding opportunities for your practice include:

Medical Management

  • Medical policy changes made to align with ICD-10 may impact business process
  • Opportunity: richer code set allows for more focused care management and wellness programs

Contracting

  • Updating contracts containing ICD-9 codes and references may impact business process
  • Opportunity: additional detail allows for a more precise pricing structure

Fraud & Abuse

  • Richer data set available for Fraud & Abuse analytics may impact business processes
  • Opportunity: greater specificity of code sets allows for more automation in reviews

Coding is a fine art. It requires the expertise of an industry insider in medical practice billing and collections and the understanding of changing regulations that create a seamless transition and drive practice revenue to new heights. revMD.com keeps you current with every development and combines this with advanced technology and business strategy in order to code each procedure for optimum return.

.com is the results-proven alternative for medical practice revenue cycle management, with a niche specialization in medical practice coding and billing that generates unprecedented results and builds profitable medical practices. Leveraging a history of industry wide success spanning 25 years, revMD.com partners with medical practices throughout the U.S. to optimize revenue for hospital based and practice based physicians. For more information, visit www.revmd.com.

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